How can you say that businesses are rehiring when unemployment is the highest since the great depression?
Previously, jobs were being shed and productivity was rising.
Now, jobs are still being shed and productivity is declining.
Previously, jobs were being shed and productivity was rising.
Now, jobs are still being shed and productivity is declining.
Oh, and it's not the highest since the Great Depression either -- there was a spike to 10.8% in 1982.
http://www.google.com/publicdata/explore?ds=z1ebjpgk2654c1_&...
Isn't data wonderful?
Data is not wonderful when it is used to confuse and deceive rather than enlighten. Data becomes a tool of enslavement when a word like "unemployment" takes on an operational definition that does not reflect the public perception.
Participation, of course, is a tricky beast. Sometimes people stop participating because they're despairing over being able to find a job, but they also retire, or get pregnant, or go back to university or (if immigrants) their home countries.
He presented no statistics at all, you presented statistics that are clearly entirely ignoring a important figure.
Neither of you seem to be at all interested in seeking the truth, each just advancing their own personal agenda.
meh.
When in reality, those statistics have been cooked. Those numbers don't include people who have given up looking, the underemployed, part-time workers, or even suicides.
The Bureau of Labor Statistics is part of the problem. Their measurements are deceptive.
Sadly I blame the UAW, for then and for what's happened to Detroit since, but it still happened. It was grim. Sadly, a UAW like solution solves some problems but creates some bigger ones including just killing off the whole industry it tried to 'organize'.
At any rate, all the actual data linked in this thread points to the view that unemployment is not at its peak since the great depression. Unless you post something credible to refute that, I'm going to assume that I was right about this point and that your hypothesis is unsupported.