Tuesday, April 03, 2012

The Dire State of Employment

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You may recall the heady days back when the press was all over W. because of 5.6% unemployment. It turns out that a tick over 5% was the average for his presidency and it was that high only because of the economic crisis brought on by the Wall St. meltdown (Bush's fault if you ask a lib).

But now that we're at a steady 8+% rate, the press is strangely silent. But wait for Friday when the monthly rate is released and we find out that it goes down to 8.1% and the media gets orgasmic. Of course they won't ever acknowledge that millions have dropped off the rolls.

So just how bad is unemployment and is there any hope in sight? Based on these charts it isn't looking so good. Click through and look at the ugly stats. These are real numbers and ones you'll see no where else because they are horrific.

Think about it, we now have an entire generation of working-age young adults that have no work skills. They've not been hired anywhere except service jobs at a low wage and out of the field they studied in college. They have no resume and have lost valuable experience by not being able to find a job in engineering, chemistry, biology or whatever subject they majored in. Imagine if you just got out of college and all you could get to pay back your student loans is a job at Sports Authority when you spent years studying for your degree in process engineering.

What we will see if the job market ever comes back around is a huge wave of retirements and untrained people filling the ranks.

The Obamanation continues.

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