abraham lincoln abraham maslow academic papers africa aging aid alexander the great amazon america android os apple architecture aristotle art art institute chicago astronomy astrophysics aubrey de grey beck beer berlin bernacke bicycle BIG bill murray biophilia birds blogs bob dylan books bourdain brewing brian wansink buckminster fuller bukowski cameras cancer carl jung carl sagan cemetary change charter city chicago china christmas church civil war climate change cologne construction coop himmelblau copenhagen cornell west cps craigslist crime crown hall cyanotype cyrus dalai lama darkroom data dbHMS death design build dessau detail Diet dogs dome dongtan douglas macarthur drake equaation dresden dubai ebay eco economics economy education einstein emerson emily dickinson energy experiments facebook farming finance finland florida food france frank lloyd wright frei otto freud frum funny furniture games gay rights gdp george w bush george washington germany ghandi glenn murcutt goals good google government graphic design guns h.g. wells h.l. mencken hagakure halloween health health care henri cartier bresson herzog and demeuron honey housing human trafficking humanitarian efforts hydroponics ideas iit indexed india industrial design industrial work internet investments japan jaqueline kennedy jim cramer john maynard keynes john ronan john stewart journalism kickstarter kings of leon kittens krugman kurt vonnegut kurzweil lao tzu law le corbusier ledoux leon battista alberti links LSH madoff malcolm gladwell marijuana marriage masdar city math mead medicine microsoft mies van der rohe military milton friedman mlk money movies munich murphy/jahn music nasa nervi neutra new york nickel nietzsche nobel prize norman foster nsa obama occupy open source paintball palladium print paris parking party passive house paul mccartney persia philip roth philosophy photography picturequote pirate bay pirating plants poetry poker politics portfolio potsdam predictions prejudice presidents process photos prostitution psychology public housing q and a quotes rammed earth randy pausch reading reddit regan religion rendering renewables renzo piano restaurants revolution richard meier richard rogers robert frank rome rubik's cube rule of 72 rumi san francisco sartre sauerbruch hutton saule sidrys schinkel school science screen printing seattle sesame street seth roberts sketch social media soviet sparta spider spinoza sports stanley kubrick stanley milgram statistics steinbeck sudhir venkatesh suicide sustainable design switzerland taxes technology ted teddy roosevelt tension terracotta tesla thanatopsis the onion thomas jefferson thoreau time lapse tommy douglas transportation travel truman tumblr unemployment urban design van gogh venezuela vicuna video video games wall street war werner sobek wood woodshop woodworking ww1 ww2

23 March 2011

Unemployment at a Glance

Trending of the monetary and employment makeup of the US lately has been both disturbing and interesting, but first some articles and figures:

The unemployment rate is currently 9.5% as of February 2011.

A more accurate unemployment rate, the U6 (total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons), is about 16%.

There are now 5 unemployed workers for every 1 job opening.

The unemployment rate of the young, often cited as a reason for unrest, in Egypt is 25% - in the US it's 21% (defined as 16-24 in the US and under 25 in Egypt). If you're a college grad it's more like 11% and if you're over 25 it's 4.5%.

Cutting unemployment benefits is correlated with people looking for work less.

Graduating from college now and not getting a job is detrimental to your long term prospects - that is, we're damaging a whole generation of workers.

And last but not least, the top 400 richest Americans now own more than the bottom 50% of Americans.

I'm not even sure I need to comment further. It should be abundantly clear why firing teachers - which will most likely be young and will further exacerbate the problem, cutting government spending - which will increase that 5 unemployed per job opening number, and/or cutting taxes (on the rich none the less) at this point in time makes no sense. The employed have historically high employment rates while some job postings are even requiring that you're currently employed just to apply for the job. It's as if the unemployed have become a minority group with little power and diminishing resources. Why is this acceptable?

No comments: