Mort Zuckerman writing in the Wall Street Journal gives us 10 reasons why the unemployment numbers indicate the economy is in even worse shape than we believe.
A few of Mort's valuable observations:
- No fewer than 1.4 million people wanted or were available for work in the last 12 months but were not counted. Why? Because they hadn't searched for work in the four weeks preceding the survey.
- The number of workers taking part-time jobs due to the slack economy, a kind of stealth underemployment, has doubled in this recession to about nine million, or 5.8% of the work force. Add those whose hours have been cut to those who cannot find a full-time job and the total unemployed rises to 16.5%, putting the number of involuntarily idle in the range of 25 million.
This is why people are getting angry at Obama. He globetrots around the world being adored by foreigners while sticking to his plan to remake America by taxing and spending us into oblivion.
Meanwhile, unemployment is spiraling out of control and he doesn't seem to be doing anything about it. In fact, he says that he's done everything he plans on doing because the stim bill is going to work - despite the fact that unemployment has already exceeded the percentage he set as the ceiling if we passed the bill.
Read the rest of Zuckerman's piece to get an eyeful of why things are probably only going to get worse.
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