|
Keep in mind the job situation has not yet played out either. Our nation has been averaging a negative 70k jobs per month for over a year now. Almost all economists declare that the job market needs to create 100k jobs a month just to account for new people entering the job market.
So if we have a need for 100k jobs to be created each month for the people just entering the market sitting on top of an average of negative 70k jobs a month of people loosing jobs for over a year. That becomes a huge ass number. Well way beyond just the jobs lost that people are currently talking about (just the 70k).
Then they do tabulate unemployment in a fucked up way. Eventually if someone has been without a job long enough so that they are not longer collecting a check they no longer count stat wise.
This turns into a lot of people who can not pay bills, borrow money, spend money, or so forth. Running into the holiday season soon to boot as well when many companies make their bottom lines. Few will be spending money let alone have any to spend beyond any bills they can pay. This will lead to more budget cuts by companies which will be more lay offs. Turns into a vicious circle.
|