.comment-link {margin-left:.6em;}

Saturday, July 04, 2009

Underemployment Rate Soars To 16.5 Percent

Yesterday we learned that the U.S. unemployment rate hit 9.5 percent in just six short month under Dear Leader His Excellency Barack Hussein Pbama, Junior. We hit 10 percent unemployment under Ronald Reagan too. The difference is that under Reagan, it took nearly two years to hit an unemployment rate of 10 percent because the country was recovering from the disastrous Carter Admin Malaise.

Under Pbama, it took a mere six months to hit 10 percent unemployment. SIX MONTHS! Five and a-half, actually. At this rate, we can extrapolate numbers and guess that two years from now under Pbama, we can expect a 40 percent unemployment figure.

More alarming is the underemployment rate which is at a staggering 16.5 percent. Money Morning:

    Underemployment, where desperate workers take jobs that are not meeting their desired compensation, hours or level of skill and experience, increased to 16.5% in June from 16.4% in May. The underemployment rate last month was the highest since the Labor Department started tracking it in 1994.

    Some analysts, such as Themis Trading’s Co-Manager of Trading Joe Saluzzi, believe underemployment is the “real” amount of unemployed people in the market.

    “[16.5% is] the real amount if unemployed people out there. If anything you see wage growth is not there, hourly earnings and the workweek is lower. Now you have a recipe that is a mess here, because nothing is improving. People still want to say that unemployment is a lagging indicator, I don’t get that,” Saluzzi told Reuters.“The only thing we’ve got going is stimulus[.]

And how 'bout that stimulus, ladies and gentlemen. How's that working out for you? Not good? Huh...imagine that. That's because all that stimulus money is going to big, fat bonus checks to the investment and banking firms that supported, voted and donated to The Kenyan

This is all part of The Kenyan's plan to make our country and its people suffer. He's already killed the economy, our financial institutions and our auto industry. Next in his sites is the our healthcare and medical industry. After that, he will kill our method of plentiful food production and farming.

A hungry, starving nation is a nation willing to do anything. And this is what Fascist Pbama wants. I know his Pillow-Biting Cultists still think he's the dreamiest thing since serial adulterer JFK. I wonder if they'll still think this as they feast upon rancid food from dumpster diving and drink contaminated water?

Way to go Barry! You're doing a Heckuva Job! A Heckuva Job!


Labels: , , , , , , , , , , ,

Comments: Post a Comment

Links to this post:

Create a Link

<< Home

eXTReMe Tracker

Web Site Traffic Counters
Alabama Internet

Listed on BlogShares

This page is powered by Blogger. Isn't yours?

This site uses photographs and material from other sources in strict
accordance and compliance with Fair Use Section 107 U.S. Copyright Code.
All other images and content © 2005-2009 David Drake.
Not responsible for content contained at linked sites.

Policy on commenting:
- Anonymous comments have little chance of being published.
- Comments made on posts 60 days old or older have little chance of being published.
- Published comments do not necessarily reflect the views of this blog author.
- Discretion of publishing or rejecting submitted comments rests solely with the owner and creator of this blog.
- Comments that egregiously "plug" (i.e. advertise or promote) another site or blog will be rejected. This doesn't mean you cannot include a link to your story, blog or to another site, but don't go overboard.
- Profanity is not a disqualifying factor, but profane rants solely for purposes of profanity are unlikely to be published.
- The owner and creator of this blog is not liable or responsible for the opinions of those who comment.