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U.S. Jobless Rate Shocking: 15.7 Million Workers Unemployed |
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Stunningly bad news on the nation’s jobless rate today: Unemployment worsened in October to 10.2 percent, a huge jump from 9.8 percent in September. That’s 15.7 million jobless workers, according to the U.S. Bureau of Labor Statistics.
Worse, the unemployment and underemployment rate is a shocking 17.5 percent—more than 27 million American workers without full-time jobs.
The construction, manufacturing and retail industries had the biggest losses, with 62,000 construction jobs lost in October, 61,000 in manufacturing and 40,000 in retail. Health care and temporary employment were the only bright spots, with health care jobs increasing by 29,000 and temp jobs by 44,000.
The nation’s jobs situation would be even more dire without the Obama administration’s American Recovery and Reinvestment Act of 2009. Nearly 1 million jobs have been saved or created because of the economic stimulus plan, and the White House says the nation is on track to meet the president’s goal of 3.5 million by the end of next year.
But as today’s numbers show, the overall jobs situation isn’t improving any time soon, according to Economic Policy Institute Director Larry Mishel, who predicts that one-third of the U.S. workforce will be unemployed or underemployed in 2010.
Long-term unemployment is the worst in 24 years, and there now are more than six workers for every available job. The U.S. Senate finally passed an extension of unemployment insurance, and President Obama is expected to sign the bill today. But far more needs to be done.
In short, the nation needs jobs.
Nobel Prize-winning economist Paul Krugman says although “the apocalypse has been postponed” because of the Obama administration’s economic recovery package passed by Congress earlier this year, it’s essential to follow up with further fiscal action—that is, spending money now to create long-term benefits, like jobs—to prevent prolonged suffering.
Economist Julianne Malveaux puts the case succinctly:
Absent public job creation, it is likely that the economy will not fully recover.
Help certainly isn’t coming from Wall Street or Big Business.
Now that they have pocketed their bailout cash, Wall Streeters are impervious to the nation’s ongoing jobs disaster. In fact, an annual report by Johnson Associates on financial industry payouts projected they will be up 40 percent from 2008, when they plunged in the midst of the financial crisis.
In 2008, Wall Street handed out nearly $20 billion in cash awards and billions more in stock and other incentives to employees based in New York.
Wall Street is celebrating a “recovery” based on a 3.5 percent increase in the gross domestic product (GDP) in the third quarter of this year. But America’s workers know there can be no recovery unless everyone who wants to work can find a good job.
This alarming jobs report “should be a wake-up call to sleepy politicians,” says AFL-CIO President Richard Trumka:
Every day, it becomes more urgent that the federal government step up to the plate with bold actions to boost job creation. Such action should include urgently needed fiscal relief to state and local governments, community jobs programs, additional investments in infrastructure and green jobs and credit relief to small and medium-sized businesses. Failing to act puts us at very real risk of a lost generation—of hard-working Americans who can’t put food on the table and bright young people who never realize their potential.
The AFL-CIO and our allies are unveiling an effort this month to push for immediate job creation, among other critically needed economic aid for working families. The nation needs to act fast to stop the hemorrhage of jobs and the economic crisis among working families.
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It took the Rushpublicans 30+ years to screw up the economy.
We can’t un-screw it in fifteen minutes!
But we have to start sometime!
Something we really ought to consider: Over the past 30-some years, thousands of our jobs were moved to foreign countries, with this international job expansion financed by our own tax dollars. During this time, we took an ax to our welfare system, always on the theory that there were plenty of jobs available, and people just needed an incentive (i.e., desperation) to work. The result: While corporations are enjoying continued tremendous profits, there aren’t nearly enough jobs for all who desperately need them, and the safety net has been shredded.
I would suggest reversing course. The free enterprise system must not be allowed to mean “free from rules and responsibilities.” Corporate handouts must come with strict
conditions to prevent them from closing out US jobs and moving them to foreign countries.
The “failed” New Deal, with its welfare system, was central to increasing the clout of workers, protecting both wages and unions; the worst employers couldn’t get workers because people did, if worse came to worse, have something to fall back on. In spite of all the myths about a “vast welfare state”, the pluses FAR outweighed the minuses. The biggest program, AFDC, dramatically improved the health of children, reducing health care costs. AFDC used only 6% of the federal budget. Some 80% of welfare recipients used aid for under 5 years, and the overwhelming majority of “welfare kids” grew up to be self-sufficient, becoming part of the massive middle class that we once had.
Today, when hard times hit, families have far less chance of working their way out of poverty. Without a safety net, people are afraid of losing their jobs; they can be replaced by morning with workfare labor. Few can risk speaking up, much less going on strike, as employers drive down wages and “cut corners” on workers’ rights and protections.
Americans today aren’t very good at tying these things together to see how the policies that impact one segment of society actually impact all but the richest. We ought to start talking about it, taking a hard look at what has failed over the past 30 years, and taking a fresh look at past policies that enabled the US to become the leading economic force of the 20th century.
this news comes as no shock to me. i have been out of work for 18 months. i have posted many blogs on many sites in regards to WHERE are the JOBS. MY resent letter to the AFL-CIO seems to have been a waist of time because NO RESPONSE was given. We as union members got onboard the Obama campaign and used the MILLIONS of VOTES we represent to help get him elected, that showed me of a powerfull voice we have. It was known then of the crises we were facing, the need for job CREATION… not this SAVED job nonsense. As this article states there are 27 million unemployed and it also goes on to say there may be upwards of 1/3 unemployed to come… I repeat 1/3 when sould i feel that a CRISES has begun! When should I feel the AFL-CIO is taking our voice to WASHINGTON. When can i EXPECT to see SOME REAL EFFORT being given in the NEWS of SOMETHING that brings this NO JOB CRISES to the light of the AMERICAN PEOPLE. LOOK if we were to address the issue in a way that FDR did and CREATE some WORK PROGRAMS to put people to work and build in this counrty this crises could be everted. You know there is alot of stimulas money that could be used to create jobs that could be used to build many things that could be sold to people like warren buffet even if he was given some hugh tax break which would be no differant than the hugh tax breaks that are being given to wall street and their likes. A great point would be to look at TVA and the work that was created there and there are many other situations on the same basis that could be done IF only an Institute such as AFL-CIO would step up to bat and get this notion running. I’am sorry to say i might not be the britest bulb in the pack but i can certainly see that JOBS are the MOST critical situation that faces AMERICA today. If it wouldn’t be to much to ask i’d like you to take a look at the last E-MAIL i sent i had a better offering of how i see the situation. a response to this mailing would be so very much appreciated. Sincerely David Shelton
wondering if this post even goes through seems i just made a post that went nowhere! thanks for the waist of my time
I just read your post. It was not a “waste” of your time.
are they also counting the discouraged,those whose benefits have run out, people on entitlements who want to work but cant find jobs or the jobs are so low paying one is better off not working?
“U.S. Jobless Rate Shocking: 15.7 Million Workers Unemployed”
And still our government continues to allow the importation of ‘cheap’ foreign labor.
Will our Union leaders EVER get back to issues like TRADE REFORM which WILL create jobs instead of affiliating with UNI Global Union which organizes in countries TAKING these jobs?Wonder how much money UNI is paying them to sell us out.All weget from them is a pro AMNESTY stance which costs us jobs.Check out this link…http://newsblaze.com/story/20070828055523lill.nb/topstory.html John Buck American Federation of CitizenUnion Workers P.A.C.
The censorship on this site reenforces my feelings that our leadership has been taken over by communists
I wonder what the figures would be if you also included the under paid with the under employed? People toiling long hours in “right to work states for peanuts. There is no better time to launch the “employee free choice act.”
Amazing! It’s happening to other people too, I was wondering if it was just me that was having thier posts set aside. It’s a shame we have to feel that the very people we pay to represent us, wants to censor and ignore our opinions. And no, I’m not just talking about congress! Well I refuse to allow this organization,my International or my Local decide what my feelings are gonna be on any given subject.
I refuse to believe that giving amnesty to illegal aliens holding up to eight million jobs in our country is something we should do. I refuse to believe that our Govt. does not hold us in contempt when they keep giving out 128,000 + visas”green cards” monthly to foreign workers!
But most of all I believe that our economy will not start to turn around untill our Govt., led by this President stands up and says that the best stimulas program,is to buy American! And take steps to make that happen!
Living in Arizona has provided me with a clear picture of what illegal immigration is doing to our countries crime and unemployment rates. My husband has been unemployed from his construction job for months while we watch companies hire illega’ls from outside the local corner store for $4 an hour and a sandwich. Joe Arpaio, the head of Maricopa County Sheriffs Department has been fighting a one man battle to keep unregistered immigrants out of our county while the Federal Government is putting pressure on him to stop doing his job. He refuses to back down and lives with death threats every day. Sheriff Joe has arrested and turned over to ICE, 25% of all illegal’s caught in America. The Feds. should take a page from his book instead of criticizing his actions. Thank You Joe!
I see others have been censored,also it’s not politically correct to call a rock a rock here or to critiscize the AFL-CIO or our International Unions to harshly if you do it won’t be published.It is the main reason our country is in the shape its in. They all seem to know better than we do what needs to be done.Just ask them if you don’t belief me.The silence is deafening.
yes this site is being censored no use posting here… if you bash you clash
Fire Wall Street, Hire Main Street:
Obama’s main problem right now on getting a real economic recovery started with his insistence on keeping the same criminals in power who got our financial systems into such a mess. A real solution for labor and progressive would be to fire Larry Sumners, Tim Geitner, and all of their Wall Street cohorts, and start a real jobs program modeled on the WPA and CCC. FIRE WALL STREET, HIRE MAIN STREET!
Enough of stimulus money going through ten layers of middlemen before anyone gets hired. The government can do it better. We could be building the infrastructure now that creates the next economic boom.
And for the anti-immigrants out there. Stop blaming fellow workers for our unemployment, The USA has always been a country of immigrants and it always will be. Our only hope is building worker strength with everyone here in the US against the interests of the Tim Geittner’s. The banking executives are the real illegals! And they all got multi-million dollar bonuses this year.
FIRE WALL STREET, HIRE MAIN STREET
Jakob Juntnen,you are correct the USA has and always will be a nation of immigrants.People that came here seeking a better life,but they came legally and didn’t trod on anyone else to do it.The illegal immigrant is a parasite on them,us and you my friend.What would you do open our country to anyone and everyone that could get inside the borders by any means?Don’t you think that would create quite a mess?It’s exactly what the open border advocates would like to see happen.How many millions do you think this country could take and not end up a thrid world country?Not very realistic is it?We absolutely must enforce our immgration law or be overrun is the way I see it.We already have more people than we have jobs.Anti-Immigrant I am not.I am a mixture of Irish,French,Swede,English and who knows what else,all came here legally in the mid 1700’s to the late 1800’s.Learned the language,educated their kids,fought and died to make it free and built this country that you and others would like to give away to a bunch of thieves.
How come our unions still funnel millions of our dues to the Democratic Party when we get nothing in return?Are we supposed to be content with an extension of jobless benefits every now and then.If we would invest those millions into creating our own party and bidding our own jobs we would have been better off today.I guess those in executive positions in the AFL CIO get rich while the rest of us can go squat.
WE NEED TO GIVE TOTAL AMNESTY TO ALL ILLEGALS.BRINGING THEM OUT OF THE SHADOWS WILL FORCE THESE EMPLOYERS TO LEGITIMATELY PAY THE TRUE COST OF EACH EMPLOYEE,TAKING AWAY ANY INCENTIVE TO TO SEEK THIS KIND OF LABOR OUT.IVE BEEN BACK AND FORTH WITH THIS SUBJECT FOR YEARS NOW AND THIS THEORY SEEMS THE MOST CREDIBLE.PLEASE TELL ME YOUR THOUGHTS ON THIS.
k2kelly, I totally agree with your position. To forcibly remove illegal immigrants from their jobs or deport them to their native homelands would devastate their immediate family members, especially if they have had children in this country, as they are immediate American citizens. Unlike some people who contribute to this AFL-CIO Blog post, it is refreshing to know that there is someone like you who has compassion for other human beings. Thank you for your post.
The Republicans are touting the construction of 50 new power plants in America all while the Democrats are calling for cap and trade legislation.I cannot believe they let the R Party out front on this issue when the Union Trades know goodwell that the construction jobs would be primarily Union and could create another boom for years to come.