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“Real unemployment in US is twice official figure”
Published: 05 December, 2009, 03:34
Edited: 28 February, 2010, 21:26
Although official figures for US unemployment is 10 percent, the actual unemployment rate is twice as large, Michael Lind of New America Foundation told RT.
“The official unemployment rate is 10 per cent, but that leaves out two groups of people – those who are underemployed, who are working part-time but would like to work full time, and also people who have given up working entirely and are not even searching for work anymore,” Lind said.
”When we add these two groups to the official rate, the actual rate of unemployment is close to 19 per cent, nearly one out of five Americans.”
Meanwhile, Barack Obama recently announced that there has been a slowdown in job losses in the US.
Speaking in Pennsylvania, the American President said that only 11,000 people lost their jobs in November, about 115,000 fewer than was forecast.
Still, Obama admitted the economy is in the midst of a "brutal recession" and the overall situation is tough.
04.12.2009, 23:07
9 comments
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America doesn't really have unemployment. It is just a light case of the Obamanation jilts. America is not really at war. America is just fighting for peace and prosperity {oil}. Americans have not really lost all of their voice in their government. Their controlling government just always knows what is best for them. Americans are not really being swindled by unfair taxes. The rich just need to get richer so they can reward the congressmen and congresswomen who wrote the bills to make them richer. There isn't really any true science behind the climate change/global warming scare. Billionaires will make billions more from the scam anyway. Swine flu didn't come from pigs. Still, the profiteering pigs made a fortune off of the scare. There isn't really a Santa Clause. Try to tell this to the wall street billionaire thieves.
It was only few days ago when George Freedman, an American political scientist and founder of the private intelligence corporation Stratford assured the World on RT that US economy is out of recession and rapidly growing, but new we hear from Michael Lind of New America Foundation just the opposite from what George Freedman affirmed and that is the US economy is still in a deep recession and the unemployment is as twice as big from the official numbers, somewhere just below 19%. This is a huge number and I wonder what is going on in US, is there anyone that can be trusted in this country? If US economy is crippled negotiation for the new START treaty should be concluded very quickly because penniless US budget has no foundation for advantageous outcome and practically and historically that’s how things work and that is the rule of the game no matter how painful it is. If a donkey has a scary roars of a tiger that doesn’t make him a tiger but harmless and hilarious donkey with long ears.
Obama's figures are the arithmetic of intrigues and deception. The significant figures are the 40 million living beneath the official poverty line in the United States. In comparison with the dimensions of poverty in my own country Nigeria, a third world country, ruled by Pro- Western leaders, this figure may not seem to be so very much. But how much greater than Nigeria's are the resources the U.S.could draw on to take care of its hungry and homeless ! In this light isn't the social contrasts of New York's Harlem far more glaring than those in Lagos or Brazil? In my opinion, they are. All of which goes to show that the growth of a country's national wealth in step with its economic development is in itself no guarantee of the extirpation of social injustice. And no less important is the way this weaith is distributed, how fair the socio-economic system is towards those who create it. No matter how benevolent are the social ideals of the west , no matter how magnanimous their proclaimations of freedom , democracy , egaliterianism and equality of oportunity in the land of the free, the point remains that magnanimity and philantropy would spell bankruptcy for any capitalist in that system since it would reduce its competitive capacity. In other words capitalist enterprise is rooted in social injustice. To reduce the scurge of US unemployment and hunger therefore is anything but simple.