While some people may not get in regards to unemployment numbersÂ how bad it is out there. We have other indicators that are in my opinion better indicators.Â And to me unemployment numbers are not a good statiscal visual for the average person (at least not in the beginning,) Â jobs have been going awayÂ since 2007 and some people have just stopped looking, so how do we see how bad it truly is?
Â A good indicator is job creation (or payroll employment.) Since 2007 the rate of job creation has not kept up with the US population that needs jobs.
Last year while people were telling you to buy a car, buy a condo, spend money the people at the top knew it wasÂ bad, but yet in our local paper the LA Times, not too much of a comment on this until now and they wonder why no one reads them. Is that Sam Zell’s fault too?
In July 2008Â our buddy Ben Bernanke (month seven of consecutive hemorrhaging of jobs) was telling us everything was going to be ok and in fact it would be getting BETTER andÂ why would he lie?
Maybe twittering and getting a better web presence isn’t that important, but hey, what do I know. I’m just a blogger.
I am thinking info like this not be widely circulated to the general public is why we don’t really give shit about that LA Times anymore. I don’t need my living room redone and I don’t care about the newest bar on whatever side of town you’re calling the hip section these days, that’s what LA Metblogs is for. But feel free to go ahead and waste my fucking time making sure you label every neighborhood with its proper title and coming up with clever labels like the nouveaux poor (you changed the title, because it was in poor taste, but I remember the original one) because you know in the bigger scheme of things that’s some really important shit.
Job losses per month Jan 2008-Jan 2009 (Jan and Dec are preliminary, I expect it to be close or worse.)
JanÂ -72,000 jobs lost
Feb -144,000 jobs lost
March 122 ,000 jobs lost
April-160,000 jobs lost
May-137 ,000 jobs lost
June-161 ,000 jobs lost
July-128 ,000 jobs lost
August-175,000 jobs lost
September-321,000 Â jobs lost
October-380,000 jobs lost
November-597,000 jobs lost
Dec-577,000 jobs lost preliminary
JanÂ -598,000 jobs lost preliminary
For reference America needs 100,000 jobs to be created per month to absorb everyone that comes into the labor market, so even 60,000 jobs created would be bad, so losing jobs is pretty horrid. Losing jobs for twelve months straightÂ is pretty horrific.
Info gotten from the BLS