Make less than $50K per year? Your unemployment rate is 9-30.8%

A report just published by Center for Labor Market Studies, Northeastern University in Boston, Massachusetts breaks down unemployment by income groups. The numbers for the lowest groups are truly horrendous: the bottom decile ($12,499/yr or less), representing over 9 million workers have a combined underutilization rate of 50.2%. Underutilization combines unemployment of 30.8%, underemployment (less than fulltime) of 20.7%, and labor force resrve (not looking but willing) of 9.9%.

For the next decile, 7.7 million workers: $12,500 to 20,000, the numbers are 19.1%, 17.2, and 6.3.

For those earning $20,000 to 29,999, 13 million workers: 15.3%, 12.7%, 3.0%.

$30,000 t0 39,999, 14 million workers: 12.2%, 8.3%, 3.7%

$40,000 to 49,999, 12 million workers: 9.0%, 6.1%, 3.0%

In contrast, the top decile, those earning more than $150K/yr, 11 million workers: 3.2%, 1.6%, 1.4%

No wonder the politicians think there's a recovery: no one they know is out of work.

But those numbers are horrific for everyone else. If they don't change soon, there will be hell to pay.

www.clms.neu.edu...

[edit on 19-2-2010 by apacheman]

Had to bump this because I think it's very important data.

The official numbers mask the realities that this report uncovers. I thinkthose who tell people to try harder to get a job should review these numbers and let them sink in for a bit.

The worst part is the people making under 50k in most areas are the ones doing the actual work of the business. These people are the grunts and lower management, the people who actually make it posible for the business to run. Look at any multinational conglomerate and this structure is totally evident, sickening.

Originally posted by apacheman
Had to bump this because I think it's very important data.

The official numbers mask the realities that this report uncovers. I thinkthose who tell people to try harder to get a job should review these numbers and let them sink in for a bit.

Good post. The elites are never in touch with the peasants, but even more so now. Maybe the elites were shocked by yesterdays opening salvo against the IRS, but most people I know kind of had the feeling of, "well thats to be expected".

I spent 8 months looking for a decent job, worked many a part time jobs on my way. Thankfully I am employed in the profession I am trained for now.

Originally posted by ISHAMAGI
The worst part is the people making under 50k in most areas are the ones doing the actual work of the business. These people are the grunts and lower management, the people who actually make it posible for the business to run. Look at any multinational conglomerate and this structure is totally evident, sickening.

So true!! In the company I am in the upper management doesn't have a clue how our business really runs. Me and a couple of the other younger guys carry the weight of the business on our shoulders while making 1/3 of the pay. Livin' the american dream. lol.

[edit on 19-2-2010 by Ace High]

reply to post by apacheman


Another useless study.

Do any of you really need a study to know this information? Isn't it common sense?

Of course unemployment is going to hit hardest where:

A) There is the most unskilled labor

and

B) There is the largest population of workers



Everyone should already know this information...and there should be no shock when someone (who probably makes more than 150k a year) does this study and shows you numbers to go with what common sense should tell you.

reply to post by OutKast Searcher


What you say is true, but what you don't seem to comprehend is the magnitude of what you are looking at. For the bottom two or three deciles those are Great Depression or worse numbers.

You can't dismiss them with a "so what?"

Things are getting worse, not better. There will be social consequences to pay. People do not go quietly starve in the corner.

Imagine Bernake (spl) trying to manage the Fed in the face of 30 percent of working Americans grossly underpaid.

Next imagine that he has NO FRIGGEN CLUE about the reality on the ground.

Imagine Congress spending millions on getting reelected.

Now imagine 500 old f"/$" with NO FRIGGEN CLUE about how American`s really feels getting grossly underpaid after being promised the American dream by movies and Holly B.S. Wood with special Tax cuts to the movie industry to get America working again.

Next imagine a bunch of pissed off ex cons getting released early because of budget cuts.

Imagine police and firemen losing jobs because of budget cuts.

Imagine thousands of Joe Stacks and worse...seemingly fine, educated, intelligent white guys having been screwed by divorce courts, taxes, moonlighting just to pay the bills for his second or third family with a wife who bases reality around Survivor and Angry Beavers..I mean Desperate Housewives.

Next imagine thousands of kids 20 to 30 years old getting tired of living in the basement of their parents home.

Imagine all the people living for today. lol

We could be in for one heck of ride.





Imagine the next election with the same scenario.