U6 numbers as of July 2, 2009 have gone from 10.3% to 16.5% in one short year!
U6 accounts for the folks below, as well as the newly unemployed. Basically it lumps together EVERYONE that’s without a job, or those WITH part-time jobs who are ready, willing and able to work full time:
“Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past.
Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule.”
http://www.bls.gov/news.release/empsit.t12.htm
No jobs, no prospect of jobs, no recovery. The Porkulus Bill didn’t create a SINGLE job that can be seen. Porkulus II won’t do a d@mn thing but completely seal the fate of our kids and grandkids as endentured slaves to Government.
It’s really pretty simple.
***The Porkulus Bill didn’t create a SINGLE job that can be seen.***
Any jobs “created” from the “stimulus” bill are jobs not created by the market and thus a drain on our scarce resources. It’s too bad the government only looks at GDP and unemployment because these measures mean very little without qualification. We could have minimal unemployment and soaring GDP if the government hired a bunch of people to dig holes and fill them again.