Don’t be fooled by the recent economic data. You wanna know how bad the unemployment problem is? This NY lady is suing her college because she couldn’t find a job after her graduation! Well… it’s a little extreme, but you get an idea how desperate people feel.
Jobless Woman Sues Her College Because She Can’t Find Job
Well, seriously, here are a few reasons why the unemployment problem is so bad:
- 185,000 workers in the June number were the product of statistical sampling, but could not be verified by the government.
- Companies are asking employees to take unpaid leave.
- 1.4 million unemployed workers weren’t counted because they’re not searching for work.
- Part-time employment has doubled to 9 million.
- The work week is 48 minutes shorter than when the recession began.
- The number of long-term unemployed (4.4 million) is at an all-time high.
- There were no wage gains in June.
- The goods-producing sector lost over 223,000 jobs just in June.
- When business picks up, businesses will just add hours to existing workers, rather than create new jobs.
- Old business lines are being eliminated entirely, not shrunk down, decreasing the odds that the unemployed will be able to find work.