When you fall off the tail end of your unemployment benefits, you are no longer counted as "unemployed." When you go from CFO at $95,000/yr. to Burger Flipper at $23,000/yr so you can pay the grocery bill as you live with your cousin, you are no longer counted as "unemployed." For these reasons ONLY, is the unemployment rate holding steady around 10% (which is a disastrous number in itself).
Look for that number to improve "unexpectedly" after March of this year, when 971,000 people are hired to count illegal aliens and dead people as part of the next decennial census of the US population.
. . .
to be followed, I am sure, by "unexpected" declines in employment, once the census completes and STILL nobody is hiring new employees in the private sector. . .
The timing on this, by the way, is setting up a Perfect Storm to blow Democrats out of office in 2010. "Economy bad = incumbents must go!" The stimulus funds-generated make-work will have dried up. Everyone will see that the Demicans have not fixed our problems with raw Hope. The unemployment number is going to spike as we round out 2010. That may well be what pushes us over into the double-dip of this depression, if we aren't in it already.
Okay, how?
The US economy is constructed entirely on the faith of the people in the USA, in the soundness of the economy in the US. It is, quite literally, based largely on nothing. Let people see a huge hole in the bottom and we'll suddenly be "unexpectedly" sucking wind, big time. Gee, it's too bad no-one could have foreseen all this . . .
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