Sunday, September 04, 2011

Rape The Economy, Massively Fund Your Security Buffer

Security against an enraged population.

Job seekers join the military as last resort

"(CBS News)

There's no better government job creator than the U.S. military. Americans sign up for a lot of reasons, such as to serve their country and for the health and education benefits . But CBS News correspondent Michelle Miller reports, some young people are finding that the armed forces are the only employment game in town these days.

Joining the marines was not part of Tyler Mitchell's career path. He graduated with a degree in film and video last year, but he couldn't find a job in Chicago.

"The economy makes it really tough right now," said Mitchell. "People say, 'You go to college, you get a degree, you'll get a great job.' Well nowadays, I don't really think that's really the case. You go to college, you get a degree, you get a lot of debt, and you don't get a job."

"I can't get a job in the civilian world," he continued, "somebody else wants me, so why not go with them?"


Blogger retank said...

Poverty draft

4/9/11 8:04 PM  
Anonymous Anonymous said...

He who owns the gold, makes the rules and doesn't care how he treats anyone else besides himself. Greed has replaced democracy, decency, middleclass virtues as the new political party.

The unemployed will face tough competition from the underemployed once economy improves

In this Sept. 2, 2011 photo, Ryan McGrath, 26, poses in his home in Michigan City, Ind. McGrath has been working part time designing web sites for small businesses but wants steadier full-time work. (AP Photo/Joe Raymond)
Paul Wiseman and Christopher Leonard, AP Business Writers, On Sunday September 4, 2011, 9:10 pm EDT
WASHINGTON (AP) -- The job market is even worse than the 9.1 percent unemployment rate suggests.

America's 14 million unemployed aren't competing just with each other. They must also contend with 8.8 million other people not counted as unemployed -- part-timers who want full-time work.

When consumer demand picks up, companies will likely boost the hours of their part-timers before they add jobs, economists say. It means they have room to expand without hiring.

And the unemployed will face another source of competition once the economy improves: Roughly 2.6 million people who aren't counted as unemployed because they've stopped looking for work. Once they start looking again, they'll be classified as unemployed. And the unemployment rate could rise.

Intensified competition for jobs means unemployment could exceed its historic norm of 5 percent to 6 percent for several more years. The nonpartisan Congressional Budget Office expects the rate to exceed 8 percent until 2014. The White House predicts it will average 9 percent next year, when President Barack Obama runs for re-election.

The back-to-back events will come days after the government said employers added zero net jobs in August. The monthly jobs report, arriving three days before Labor Day, was the weakest since September 2010.

Combined, the 14 million officially unemployed; the "underemployed" part-timers who want full-time work; and "discouraged" people who have stopped looking make up 16.2 percent of working-age Americans.

The Labor Department compiles the figure to assess how many people want full-time work and can't find it -- a number the unemployment rate alone doesn't capture.

In a healthy economy, this broader measure of unemployment stays below 10 percent. Since the Great Recession officially ended more than two years ago, the rate has been 15 percent or more.

The proportion of the work force made up of the frustrated part-timers has risen faster than unemployment has since the recession began in December 2007.

That's because many companies slashed workers' hours after the recession hit. If they restored all those lost hours to their existing staff, they'd add enough hours to equal about 950,000 full-time jobs, according to calculations by Heidi Shierholz, an economist at the Economic Policy Institute.

That's without having to hire a single employee.


Eventually, lots of Americans like Spaulding will start looking for jobs again. If those work-force dropouts had been counted as unemployed, August's unemployment rate would have been 10.6 percent instead of 9.1 percent.

5/9/11 11:57 AM  

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