Gallup Reports Underemployment at 20.1%

Just a few weeks ago underemployment was reported to be around 17% but now, according to Gallup, it has risen to 20.1%. So either people are finding more part time jobs or they are having their full time hours cut back to part time. Either way, it is not good and is indicative of the dire economic outlook. What are your thoughts?
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I live 60 miles west of Chicago, and yesterday we jumped to 25% unemploy. That's insane. We were a huge manufacture hub. Wasn't the great depression overall unemployment at 25%? It's probably higher where I live too, since so many have given up looking, only have part time jobs, or leave with folks. It's rough times...not just rough, but hardcore.

This is nothing new. This has been going on since the Reagan days when companies starting moving middle class jobs out of the United States to save money. Back when they actually received tax incentives to do so under the guise of helping developing countries.

Free trade, nafta, corporations lobbyists, and political parties that scream anytime you try to do something that will benefit the country but hurt a multi-national corporations guarantees this will continue.

One of the most important threads and it has gotten only a few replies. I think that's the greater attitude of most of us nowadays. Does it really matter if unemployment gets worse? Is it really a surprise? I mean WallStreet doesn't care. The stock market keeps going up and up. I live in Southern California. And it must be a damn bubble down here. It's as if the recession is nonexistant. And CA is a mess and has high unemployment. But people are still spending like crazy. My hospital just granted us a cost of living increase.......I'm grateful I guess........but at the same time if the economy continues to deteriorate they will have regretted it. That's the biggest problem nowadays. Companies and corporations have no foresight. They operate on knee jerk reactions. No planning for a rainy day. How much does the average business have saved up for economic crises? Obviously not much considering. They blow through money as much as individuals. As much profit as some of these companies make you'd think they'd have enough savings to operate at a loss for years.

I love it, 20% unemployment and the communists still worship their czar.

Does anybody know what the natural underemployment rate is?

Somebody correct me if I am wrong, but the unemployment rate can never get below 3% or so. This is because even in the best job markets, people are going still going to quit their jobs or get fired, and it takes time for these people to find another job.

My guess is that no matter how strong the job market is, there are always going to be some underemployment. There are always going to be people for one reason or another who are not going to be able to secure a good job. Does anybody know what this number is?

so many economic problems right now. this is not suprising at all. i know people with MBAs doing data entry.

but that government is doing a nice pump with the stock market. seems real successful now. feel bad for the people who think this is working, when their dollar is worth pennies on the dollar they will probably want another bailout....and won't realize printing more money and watching those markets inflate is the worst thing you can do.

I don't know what to think anymore. It seems as if the recession is over, no one even talks about the economy anymore its old news. Yet I keep seeing these big bad numbers being thrown around. What is the real story? THat seems to depend on who I ask. I get told different stories by everyone. Does anyone know whats going on? Is the economy screwed, or is it only going to keep getting better? The stock market seems to be doing fantastic, going up and up daily. So I'm so confused. I run a lawn care business, and its one of my busiest years so far. People willing to throw money at me. It certainly doesn't seem like the economy is bad, or going to get bad within the next few years. But everytime I come on ats, everyone is crying wolf saying get ready, economy is screwed. We have this march 24th doomsday thread in here, and all tehse news articles, and videos, and greece collapsing, latvia collapsing, major bubbles in usa and china, and god knows where else. Yet, the economy seems pretty stable. No idea what to believe anymore.

Things like this... Sounds very promising, but is it true?

money.cnn.com...

[edit on 18-3-2010 by xxshadowfaxx]

reply to post by stlbirds88


The technical average is 4.5-5% unemployed.. this is due to the diversity of the American economy, that some areas will be at .2% unemployment, and other at 10% .. the average mean has traditionally not been lower than 4.5-5% .. though under Bush the unemployment was even lower... however.. this does not praise Bush, it was actually a tweaking of the way unemployment was over all calculated from the Clinton era (which changed from the Reagan era, which changed from the Carter era, etc, etc) .. This is why its so hard .. well .. 1 figure out what the hell the total unemployment rate even is.. and 2. compare it to historical references.

In the Portland Oregon metro area our Unemployment rate dropped .2% .. we had a net loss of jobs. The news caster hinted at a "Jobless recovery" with a big smile.

Amazing how even the job markets are recovering without jobs.

I don't care what the market or media says, we're far away from any kind or real recovery. The markets have bounced back because people haven't gotten the big picture yet. There are still many suckers to be had. I, too, find it a bit ridiculous how most people are acting like nothing happened and just moving on. It's rather bizarre. Before the recession hit, I knew it was going to bust hard. Now that we've reinflated the bubble, I realize it's going to crash harder. The game is rigged, and we've got what, 4-6 months before the commercial real estate bubble starts crashing? If we make it through that, we'll most likely see runaway inflation next, sometime in 3-5 years or so.

I'm just pleased to finally have gotten through to my parents. I've been screaming at them for two years to dump their stocks and buy silver. Last week they told me that they can see it's likely to all come crashing down eventually and they're ready to invest in silver. It's about time!