America isn’t working
September 3rd 2011
The labor situation in America this Labor Day weekend? Rotten. Dire. Devastating. Grim. Or, in economic terms, “less than optimal.”
The top problem, of course, is unemployment. The U3, the standard measure the Bureau of Labor Statistics uses to measure unemployment, stands at 9.1%. However, the twelve million people in that bleak number are only part of the tale. The U6, which includes “discouraged workers” and people who got moved from full-time jobs to positions paying less than 33 hours a week, stands at 18.9%.
There are two million or so for whom the 99 week extension on Unemployment Benefits have run out, and so are no longer even considered part of the labor force. Then there are the twelve million unemployables who aren’t disabled but are unable to get work because of criminal records, disfigurements or lack of education. And of course, the three million or so who are in the American gulags at any given time.
