From Larry O'Connor, Big Government:
In a report sure to cause consternation at the White House and in the offices of the Democratic Leadership in Congress, “60 Minutes” provided an in-depth report on the realities of the unemployment situation in America today.
Video.
CBS News:
Jim Wild has been applying for jobs two years. "I've gone through the tier one companies. I've gone through the tier two companies and now I'm down to Target. I just got a job offer from Target to work a part-time job at 9.50 or 9.25 an hour," he explained.
The Target job is floor sales; previously, Wild was a fiber optics engineering manager.
He's taking the job at Target and he's glad to get it.
These folks aren't that unusual: today, nearly 20 percent of the unemployed in America have college degrees.
Silicon Valley lost its jobs in construction, manufacturing and in high-tech engineering that went overseas. San Jose looks the same, but it shrank by 75,000 jobs. Many buildings there stand empty.
The national unemployment rate of about nine and a half percent sounds incredibly high and of course it is. But it doesn't nearly capture the depth of the trouble. It doesn't count the people who've seen their hours cut to part time. It doesn't count the people who have quit looking for work.
If you add all of that together, the unemployed and the underemployed, it's not nine and a half percent, it's 17 percent; and in California it's 22 percent.
And what makes it so much worse is that, nationwide, one third of the unemployed have been out of work more than a year. That hasn't happened since the Depression.
The Summer of Recovery was a complete and utter crock.
Obama and Biden and the Democrats lied to the American people.
It's time to change course.
One week to go.
2 comments:
We are on the brink of a real Depression. If the other shoe drops when we figure out that the lousy mortgage loans are still in the system... and the pension fund, banks and insurance agencies have to come clean about their balance sheets... Foreclosures just keep climbing and nobody is really sure who owns those mortgages.
Unfortunately it's not about politics anymore, it's about reality, and it ain't good. Too the idiotic Democrats aren't smart enough to realize this.
If Jim Wild is reading this, or anyone knows how to contact him, then please tell him that Australia is desperate for skilled fiber optics workers. We are at the beginning of an 8-year 40 billion dollar fiber to the home roll out across Australia. There are also jobs in Western Australia in the minerals industry. We have a massive projected shortage due to demand from Asia.
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