The unemployment rate has officially surpassed the 10% mark.  In actuality, the number is probably much higher considering the unemployment rate doesn’t include people who have been unemployed for a longer period of time and have just given up. There are people who are employed but not earing enough to make ends meet.

 

 

If 90% of the labor force is working and sectors such as construction, manufacturing and retail trade are losing the majority of jobs, where will the gains be made? Manufacturing affects the good that can be sold here and abroad.

 

 

What about the people who are under the radar and haven’t collected unemployment or are taking time off from their job search. These people that the bureau of Labor Statistics refers to as marginally attached may be seeking employment or are working on a project, volunteering or a money making opportunities.

 

 

Even though some sectors may not have people who are unemployed their wages may have decreased such as those who work on commission or tips. The people who are paid in cash for their work may also have noticed a dramatic drop in some of the monies they receive.

 

 

An unemployment rate of ten percent doesn’t show the whole picture.

Sphere: Related Content

  • Share/Bookmark
© 2010 Urban Frugal Doesn't it feel good to save money? Suffusion WordPress theme by Sayontan Sinha