We all know that the numbers for Black unemployment are always,
"officially," twice the rate of white unemployment. The unofficial,
read TRUE, rate is always estimated to be higher. Given that, today's
news about the unemployment rate and the "adjustment" to the previous
calculations, paints a more horrible picture.
combined 44,000 positions. Temporary employers, often a leading
indicator of future activity in the labor market, cut 12,000 jobs. And
roughly 272,000 Americans dropped out of the labor force, perhaps out
of frustration with their job prospects. The unemployment rate would
have risen even higher had they continued their job hunts.
Where is the Congressional Black Caucus on this?
http://newsone.com/nation/newsonestaff4/congressional-black-caucus-obama-unemployment/
“Can you imagine a situation where any other group ofworkers, if 34 percent of white women were out there looking for work
and couldn’t find it?” asked Rep. Emanuel Cleaver, a Missouri Democrat
and chairman of the caucus. “You would see congressional hearings and
community gatherings. There would be rallies and protest marches.
There is no way that this would be allowed to
stand.”
This criticism isn't new but I think only now is it being reported in
the mainstream media.
Sooner or later a politician will have the nerve to say this economy is past it's prime and will never create enough quality jobs seen in previous eras. Of course, they can't afford to tell the truth, so they pretend the fact that every thing we consume in the US is made 90% elsewhere is not a factor in how many "traditional" jobs are available in our economy, and that Washington DC can fix the problem. It cannot.
When I entered the workforce in the early 80s, companies employed 50,000 people in cities of skill levels ranging from the doorman to the chairman, and a HS graduate in St. Louis could hope to catch on at the brewery or about 5 other major corporations or banks and live a nice middle class life. It is no longer like that, and Ross Perot warned about that sucking sound, which came to pass in a major way.
Posted by: brotherbrown | July 08, 2011 at 07:24 PM