[Cerek the Barbaric]

Originally posted by Chewbacca: The nation's official jobless rate is 5.9%, a relatively benign level by historical standards. But economists say that figure paints only a partial — and artificially rosy — picture of the labor market. To begin with, there are the 8.7 million unemployed, defined as those without a job who are actively looking for work. But lurking behind that group are 4.9 million part-time workers such as Gluskin who say they would rather be working full time — the highest number in a decade. There are also the 1.5 million people who want a job but didn't look for one in the last month. Nearly a third of this group say they stopped the search because they were too depressed about the prospect of finding anything. Officially termed "discouraged," their number has surged 20% in a year. Add these three groups together and the jobless total for the U.S. hits 9.7%, up from 9.4% a year ago. No wonder the Democratic presidential candidates have seized on jobs as a potentially powerful weapon.

I'm confused by this article as well, Chewbacca. Except that I'm confused about the part where they take the 4.9 million part-time workers and add them to the unemployment ranks to increase the "jobless total for the U.S."

I'm sorry, but part-time employment IS employment nonetheless. And while I sympathize with Lisa Guskin having to work just as hard for a fraction of the money - that is just the way life goes. I have a B.S. degree in Financial Planning and Marketing both (double major). I also have an Associates degree in Electronic Data Processing (very early computer science degree). Yet there was a period after my graduation where I had to work for 2 years as a dishwasher in a local restaurant because there aren't any jobs available in my field in the area where I live. Even now, I could make far more money than I do if I chose to live in a large city as opposed to my small rural town.

The entire "dot.com boon" created a lot of false expectations because of fantastic salaries and benefits offered by companies riding the wave a technological boom that gave them enormous profits - for a short period of time. As with all waves, this one eventually crashed upon the shore and tumbled down when the market corrected itself.

I also don't have a whole lot of sympathy for the 1.5 million who claim they want a job, but didn't actually look for one in the last month because they were too depressed about the prospects. I wasn't real excited about going to work as a dishwasher either, but I WAS real excited about having a paycheck...ANY paycheck. Because some money is still more than no money.

But as the article pointed out, the unemployment figure is going to remain relatively the same, yet BOTH sides plan to use it in the upcoming Presidential election....which just goes to prove that any one figure (taken by itself) doesn't mean a whole lot...since each side will be using the same figure to prove opposite points.

skywalker - I am sorry to hear that you have been added to the ranks of the unemployed. I sincerely hope that changes for you quickly.

[ 01-02-2004, 06:28 AM: Message edited by: Cerek the Barbaric ]