Common Myths Regarding U.S. Unemployment…

The U.S. unemployment rate hit a 25 year record high last month. Here are some common myths regarding the U.S. unemployment rate, and why it may be even worse than reported…much worse.

1) The U.S. Economy has lost around 324,000 jobs so far in 2008.

This is incorrect. In reality, the amount of jobs lost must be higher. Why? Because the U.S. Department of Labor (DOL) does not count, undocumented workers (i.e. illegals who were building homes before the market tanked), and under the table workers who were never counted as well. Many part-time or seasonal positions don’t count either.

2) The unemployment rate is 5.5 percent  

This is false as well. The calculations the DOL uses ignore huge blocs of workers. For example, a worker is only considered unemployed if they meet the DOL’s strict set of criteria. Workers who don’t show up for mandatory job interview sessions, and have simply given up looking,  are not counted. They are simply dropped from the count. Also, the 2.3 million people in prison in this country do not count either.

3) The unemployment rate is ‘low’ by historical standards.

This is not so. Because of the aforementioned manipulation of the numbers, your government has the public believing that things are actually not that bad in regards to job losses. The truth is that many people work two jobs or even three jobs, yet these people are only counted as one employed worker! Technically they are I guess, but lets be real here. If you are working two jobs, that usually means you cannot survive on the pay from just one, hence you would be under-employed. Underemployed usually means you are rooming with someone, can’t afford a car, do not have healthcare, etc. According to your elected officials and pundits, this constitutes a “better living standard.”

4) Immigrants and foreign workers are robbing U.S. jobs. 

This rhetoric has been propagated by by anti-immigrant groups and conservative whose only objective appears to be driving wages down and breaking unions. Fact is, big U.S. business has sold the middle out to third world slave labor pools that even include children. This is done only to exploit these people in the name of insane profit for the power elite in this country. Remember, your co-workers don’t run the economy, your government and their corporate paymasters do.

The moral, if they don’t have an answer to the problem, they just redefine what the problem is.

Read a related article here

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Filed under Congress, Economy, Politics

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