RE and economic charts: Jobs Stagnant as Unemployment Rate Ticks Up to 9.2% in June + The Worst Part of Today's Horrible Jobs Report

Saturday, July 9, 2011

Jobs Stagnant as Unemployment Rate Ticks Up to 9.2% in June + The Worst Part of Today's Horrible Jobs Report

[mEDITate-OR:
see the pictures and charts, and think that tells U.S. everything we need to know...
OR
read the Atlantic articles by David and Derek, as see true ugliness.
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Said David:
There's really no way to spin June's unemployment report:
it's just ugly.
We saw anemic hiring,
more layoffs, and
additional workers who want a job exiting the labor market.
We also saw wages decline.
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Said Derek:
Since March, the number of unemployed people has increased by 545,000!
The share of adults working is at 58.2 percent, lower than any time during the recession!
If job participation were still at 2009 levels, the unemployment rate would be more than 11%!
The U.S. labor force just broke another distinct record: the longest average duration of unemployment ever
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While David begins with the first 2 "normal charts" that we see
he then switches to very different views.
in the 3rd chart separating private employment from govt cuts
then in the 4th showing U.S that there are now more of U.S. that want jobs
then in the 5th showing U.S. those giving up are increasing
and in the 6th that while medium range unemployed are decreasing.
both the newly and the oldest unemployed are increasing.
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What Derek shows us in his 1st chart is that the AVERAGE length we are now unemployed is at extremely and unseen levels.
and in the 2nd chart that Govt employment was already declining even before/when we were not Hell bent on doing that.
What was bad, is now becoming a national tragedy.
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