Friday, January 8, 2010

Unemployment Is Actually Going In The WRONG Directions



I realize that President Obama says that unemployment is going in the right direction but looking at the numbers from the Bureau of Labor Statistics, I would say that blacks and teens would argue that this is far from true.

Unemployment rates for the major worker groups--adult men (10.2 percent),
adult women (8.2 percent), teenagers (27.1 percent), whites (9.0 percent),
blacks (16.2 percent), and Hispanics (12.9 percent)--showed little change in
December. The unemployment rate for Asians was 8.4 percent, not seasonally
adjusted.

Among the unemployed, the number of long-term unemployed (those jobless for 27
weeks and over) continued to trend up, reaching 6.1 million. In December, 4 in
10 unemployed workers were jobless for 27 weeks or longer.

These numbers are not not quite accurate due to the fact that these numbers would not include those individuals who are without jobs but whose benefits have run out or who were not eligible for some reason for benefits.

We do not know how many people are out there who are unemployed and have just quit looking. Some people say that if these numbers were factored in we'd have a much higher rate of unemployment.

I'm sorry Mr. President but the downward trend of unemployment is not moving in the right direction.

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