This morning’s announcement that February Employment Report: 192,000 Jobs, 8.9% Unemployment Rate is small comfort to those who are working part-time jobs because they can’t find full-time employment, or who have been unemployed for more than 26 weeks! “With yesterday’s jobs report, it’s time once again to remind you how badly this recovery has lagged every other recovery when it comes to jobs”. ~ Joe Weisenthal.
I ran across a chart that depicted the ‘Percent Job Losses’ situation since World War Two that really scared the hell out of me! It clearly describes the current situation and provides evidence about why the jobs will not be coming back any time soon.
As I discussed in a earlier post, The Jobs are NOT Back. This new evidence ‘opens the kimono’ and points out that the jobless situation will not be ameliorated in the near future. Take a close look at today’s photo, provided to me by CalculatedRiskBlog.com, via Joe Weisenthal. As he says, “In terms of lost payroll jobs, the 2007 recession is by far the worst since WWII, and the “recovery” for payroll jobs is one of the slowest.”
In terms of the long-term unemployed, 27 weeks or longer, this graph shows the number of workers unemployed for 27 weeks or more. From Joe, “According to the BLS, there are 5.993 million workers who have been unemployed for more than 26 weeks and still want a job. This was down from 6.21 million in January. This is still very high.”
In terms of the underemployed, there has been a small improvement, but the numbers are still well north of the 8,200,000 currently underemployed. This is giving employers pause, as they are always afraid that if a highly qualified applicant applies for a position the utilized 25% of their potential, these unfortunate folks (the writer included) will not be hired. In my case, multiple degrees are not helping me as I apply for a position at your local OfficeMax!
As we continue to see the all-out attack on the middle class in this country, we should be very careful who we vote into office in the coming short-term! As we compete in the frenetic global economy, even a small misstep will doom us as surely as will a rampant influx of illegal aliens, or a nut-job from across the sea that brings their grievances to our soil.
We live in dangerous, uncertain times. Stay focused on doing what is right for our country and countrymen (women)!
Read more: http://tiny.cc/30hky
Photo Credit: Via Calculated Risk: