Saturday, July 09, 2005

Unemployment Quagmire

Unemployment Dips to Lowest Level in Years - Yahoo! News

The corporate media has been an obedient minion for the Bush administration on jobs. Unemployment numbers are such a tortured metric that the number has become truly meaningless.

Neocons are quick to point out that Bush's unemployment numbers, while not as good as Clinton, compare well against the terrible numbers our previous Republican presidents generated.

While that is true, I believe the formulas have been so tweaked that we will never again have accurate percentages of the unemployed. The worst offense of all is the fact that workers who give up looking for work in bad markets aren't counted, but the truth is there is just no incentive for politicians to create accurate numbers.

"Payroll growth, on the other hand, has been choppy from month to month. Employers added 146,000 new jobs in June, up from 104,000 in May.

'A lean, mean jobs machine this economy is not,' said Joel Naroff, president of Naroff Economic Advisors. 'But jobs are being created and the unemployment rate is falling so you really cannot complain too much.'"

In December last year, I left the company where I had worked for over a decade. I was unemployed about 5 months, and it is no small run of luck that it wasn't longer.

It is dangerous to use anecdotes as evidence of anything, particularly as an IT professional - my industry will continue move offshore as manufacturing did.

However, I am currently underemployed and I have no reason to doubt I will be underemployed for years. It is all part of the social engineering the Republicans have foisted upon this country, with little resistance from the Democrats.

Wealth is worshipped; work is just another expense on the balance sheet.

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