Moral Outrage
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Posts Tagged ‘jobs

US unemployment in actuality surpasses 22%

January 10, 2012

Last Friday, the Bureau of Labor Statistics (BLS) said 200,000 new jobs were created which dropped the unemployment rate to 8.5%. Economist John Williams of says the government reported more than 40,000 jobs that didn’t exist. In his latest report, Williams said, “The December 2011 payrolls included a false, seasonally-adjusted gain of roughly 42,000 […]

American statistics heading into 2012

December 26, 2011

50 million Americans live below the official poverty line, while another 100 million live in “near-poverty,” struggling to support themselves on incomes so low that they are one misfortune away from destitution. According to a study by the McKinsey consulting firm, it took six months for the US economy to return to pre-recession job levels […]

Wall Street is not the only place where greed is undermining the American Dream

October 4, 2011

Will the Arab Spring be followed by an American Autumn? It’s sure starting to look that way. Thousands of protesters are taking to the streets—in Boston and Los Angeles, at Occupy Wall Street in New York, and in dozens of other communities across the country. What do the protesters want? A solution to the jobs […]

Defense cuts could boost US unemployment

September 19, 2011

The Pentagon is warning Congress that potential sweeping cuts to the defense budget would put millions more out of work and add a percentage point to the country’s unemployment rate, officials said Thursday. The Pentagon described a dire scenario if a congressional “supercommittee” fails to agree by November 23 to trim $1.2 trillion from government […]

Why unemployment and job figures vary depending on Government statistics

August 14, 2011

Mark Twain once said, “There are lies, damn lies and statistics.” Government statistics seems to fall somewhere between the last two. Why? Partly because of the statistics we focus on. When the unemployment rate comes out, we always focus on U3: the proportion of the civilian labor force that is unemployed but actively seeking a […]

10 sad facts on the financial condition of American families

July 26, 2011

The financial condition of average American families continues to decline. #1 Only 58 percent of Americans have a job right now. #2 Only 56 percent of Americans are currently covered by employer-provided health insurance. #3 The median yearly wage in the United States is $26,261. #4 The average American household is carrying $75,600 in debt. […]

US unemployment now worse than Great Depression

June 7, 2011

We knew the job market was bad, but the latest US Unemployment Report proves that we are in the worst slump since the 1930s. This CBS clip puts it in perspective: “About 6.2 million Americans, 45.1 percent of all unemployed workers in this country, have been jobless for more than six months – a higher […]

Empirical Proof that Offshoring has Ruined the US Economy

June 4, 2011

In March of 2011, two economists Michael Spence, a Nobel prize-winner, assisted by Sandile Hlatshwayo, a researcher at New York University, published a careful empirical look at jobs offshoring and concluded that it has indeed ruined the income and employment prospects for most Americans. With engineering, design, and research jobs offshored, and with many of […]

Fewer than 46 per cent of Americans have jobs

April 20, 2011

The percentage of Americans who have jobs has fallen to the lowest point in three decades and now hovers just above 45 percent of the total population, according to an analysis of labor data published by USA Today. The report, based on figures provided by the Census and the Bureau of Labor Statistics, showed only […]

Wall Street and its 10 most ridiculous lies of 2010

December 31, 2010

1.”Honest, we didn’t do it!” Sadly, their blame-shifting strategy worked, bamboozling the media and people across the political spectrum. Crooks? Morons? Take your pick. 2.”The overall costs will be incredibly small in comparison to almost any experience we can look at in the United States or around the world.” Ever since Treasury Secretary Timothy Geithner […]