In the good old days, before ALL government statistics were meaningless because they had been manipulated so heavily, "full employment" in an advanced economy was considered to be when 5.5-5.6% of the work force was temporarily out of a job/not working.
Today, only 60% of Americans are fully employed in reality, leaving the remaining 40% unemployed or marginally employed (earning less than $15,000 per year).*
- That's pretty far from the 'offishul' claim that only 5.6% of the US work force is out of a job. The lie is revealed by looking at the numbers of people on Section-8 housing, SNAP (food stamps), medicaid, school lunches, and other 'entitlements' ad nauseum.
*50 million people report incomes less than $15K/yr, just about 25% of the work force, but BLS counts them as fully employed. Actually, here is the fun part, BLS counts anyone earning a few hundred dollars or a few thousand thousand dollars per year as fully employed.
- Full time minimum wage jobs pay $14,500/yr. Try to live on that.
No comments:
Post a Comment