Well, That's Encouraging
From the New York Times:
The unemployment rate includes only jobless people who have looked for work in the past four weeks. The underemployment rate — which also includes jobless workers who have not recently looked for work and part-timers who need full-time work — reached 17.5 percent in October. And the long-term unemployment rate — the share of the unemployed population out of work for more than six months — also continues to set records. It is now 35.6 percent.For the record, I don't believe that mandating people pay huge, monopolistic corporations (insurance companies) money they can't really afford right now is a particularly good way to increase your popularity. But, apparently, the Democrats are of that opinion. Oh, they're going to help people who can't "afford" it? Well, I'm familiar with "income sensitive" plans, and I'm not buying it...
The official job-loss data also fail to take note of 2.8 million additional jobs needed to absorb new workers who have joined the labor force during the recession. When those missing jobs are added to the official total, the economy comes up short by 10.1 million jobs.
Taken together, the numbers paint this stark picture: At no time in post-World War II America has it been more difficult to find a job, to plan for the future, or — for tens of millions of Americans — to merely get by.
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