Labor Secretary Elaine Chao Explains Rising Unemployment
| Fri Jun. 6, 2008 11:39 AM PDT
The Labor Department reported today that the unemployment rate rose from 5.0 percent to 5.5 percent in May, the largest monthly spike in more than two decades. Secretary of Labor Elaine Chao's explanation?
"Today's increase in the unemployment rate reflects the fact that unusually large numbers of students and graduates are entering the labor market."
Sounds ridiculous? That's because it kind of is. Here's some sense from Jared Bernstein at EPI:
"An increase in the youth labor force played a role in May's unemployment spike. However, even if we take teenagers out of the data, unemployment still rises from 4.5% to 4.8%, a considerable 0.3% increase, and well above the 4.0% adult rate of one year ago."
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Comments
You ain't seen nothin' yet!
Unless there's a MAJOR undertaking of preparation, when our servicepeople come home they'll be do so to an economy that can't absorb them and that's been firing -- "downsizing" -- by the thousands every month for decades. The human tragedy of homelessness will be exacerbated; and unless we reinstate old programs like the WPA to build (among other things) infrastructures and other government-sponsored programs, the only jobs expanding are in the military or the mercenary private armies (Blackwater opened a training grounds near San Diego just yesterday) because that's the only place for income, outside of crime.
But big business doesn't want this; they want expansion for profit by their methods -- which include having people out of work. Capitalism thrives when there are fewer jobs than employables, since such conditions keep expenses down and workers more intimidated.
We must work actively, at every level, and SOON! to put in place the necessary organizations (not all bureaucracies are bad) so that we can keep this frightening societal upheaval to a minimum.
What will YOU do?
Mike
Do the many fine readers of this computer monitor know what a "Temporary", or "Staffing" service/agency is? ~It's a subsidized entity which screens, tests, and interviews prospective workers a.k.a."the hungry" for contracted employers. It also guarantees that employers/manufacturers can "terminate" the "temporarily assigned" without any form of legal or moral responsibility. The "temporarily staffed" are still employed by the the agency, if it has another client/John to send them to. If not, it doesn't matter. Said employers utilizing this resource sidestep 401k, retirement, insurance, etc. and may use more of their funds to promote the political party of their choosing. ~Now isn't that democratic?
I sent a message to ms chao some time ago just to let her know what I think of her competency and what her chances were of holding that job in say, oh, seven months from now.
Maybe she can find a real job in a sector where they only hire people who aren't mouthpieces for their boss(es) and actually have some moral fiber. Is there such a thing I wonder?
I believe Ms. Cho is the most senior member of the Cheney/Shrub cabinet now. How she has kept her job so long is anyone's guess. She is just another in the long list of slugs that has all the right connections to be in such a position. Like so many others, she has never had a clue - which actually has been a job requirement for this administration.
When this 8-year cluterf#$% is over, is there anyone on God's green earth that thinks she'll be as sought after for an honest, highly regarded opinion on labor in this country, as Robert Reich has been? Other than by FOX News, of course. This nightmare can't be over soon enough.
Come to Wyoming! In Casper,
we have a Menards that can't
find workers. A hospital
and a rehab center having
a hard time finding nurses,
therapist,etc. However, for
college graduates like myself
with a BS degree from UW/CC
in social science.You can get
a job flipping hamburgers,
mopping floors, washing dishes.
To be laid off from your job
Submitted by Jake Y. (not verified) on Mon May. 11, 2009 10:59 PM PDT.
To be laid off from your job perhaps would be the most stressful thing that might happen to any employee. I guess this is what exactly feels by those who had be laid off from the Microsoft company. A new batch of Microsoft layoffs is not good news, especially not for those afflicted. Layoffs are fairly new to Microsoft, only going through them for the first time a couple of months ago. Last time they gave their employees some generous cash advances. Some people say that Microsoft is to blame, but we all know it's the economy's fault. Some will no doubt need debt relief and a few rounds with Jose Cuervo after the Microsoft layoffs. Layoffs happen whenever a company struggles financially.
