The Jobless Recovery: 25 Unemployment Statistics That Are Almost Too Depressing To Read

Guess what?  Unemployment is up again!  That’s right – even though Wall Street is swimming in cash and the Obama administration is declaring that “the recession is over”, the U.S. unemployment rate has gone even higher. 

So are you enjoying the jobless recovery?  The truth is that there should not be any talk of a “recovery” as long as the “official” unemployment rate remains at around 10 per cent and the “real” unemployment continues to hover around 17 per cent.

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There are millions and millions of American families that are living every day in deep pain because of the lack of jobs.  Meanwhile, there are all of these economic pundits that are declaring that we are just going to have to realise that chronic unemployment is the “new normal” and that if other nations can handle high rates of unemployment then so can we.  The most optimistic economists are projecting that we can perhaps get the unemployment rate down to around 8 per cent by 2012.  On the other hand, there are many economists that are convinced that things are going to get even worse.

If you have never been unemployed, it can be hard to describe how soul-crushing it can be.  As the bills pile up and the financial obligations mount, the pressure can be debilitating.  Being unemployed for an extended period of time can easily plunge you into depression and grind your self-worth away to almost nothing.  After getting rejected dozens of times (or even hundreds of times), many Americans simply give up.  There are countless marriages and countless families that are being ripped to shreds by financial pressure even as you read this.  When the money is gone and there is no job in sight it can be a really, really empty feeling.

Of course there is a whole lot more to life than money, but it can be difficult to tell that to someone who can barely sleep at night because of the intense pressure to find a job.

The vast majority of Americans have at least one family member or close friend that is looking for work right now.  Times are really, really tough and unfortunately the long-term outlook is very bleak.  We should have compassion on those who are out of work right now, because soon many of us may join them.

The following are 25 unemployment statistics that are almost too depressing to read….

According to the Bureau of labour Statistics, the U.S. unemployment rate for November was 9.8 per cent

This was up from 9.6 per cent in October, and it continues a trend of depressingly high unemployment rates. The official unemployment number has been at 9.5 per cent or higher for well over a year at this point.

Source: USA Today

In November, the U.S. economy only added 39,000, much less than the 150,000 economists expected

Source: CNN Money

Source: CNN Money

As 2007 began, there were just over 1 million Americans that were unemployed for 6 months or longer

Today, there are over 6 million Americans that have been unemployed for 6 months or longer.

Source: Zero Hedge

It now takes the average unemployed American over 33 weeks to find a job

Source: NY Times

In America there are not enough jobs for everyone. There are approximately 5 unemployed Americans for each job opening

Source: USA Today

Americans that have been unemployed for less than five weeks are three times as likely to find a new job than Americans that have been unemployed for over a year

Source: NY Times

The U.S. economy needs to create 235,120 new jobs a month to get the unemployment rate down to pre-recession levels by 2016

Source: Zero Hedge

In other words, those Americans would gladly take full-time jobs if they could get them, but all they have been able to find is part-time work.

Source: Calculated Risk

In 2009, total wages, median wages, and average wages all declined in the United States

Source: Tax.com

At of the end of 2009, less than 12 million Americans worked in manufacturing

The last time that less than 12 million Americans were employed in manufacturing was in 1941.

The United States has lost at least 7.5 million jobs since the recession began

Source: USA Today

Only about 40% of Ford Motor Company's 178,000 workers are employed in North America and a big percentage of those jobs are in Canada and Mexico

In 1959, manufacturing represented 28% of U.S. economic output. In 2008, it represented 11.5%

Earlier this year, a poll found that 28% of all American households had at least one member looking for a full-time job

In the United States, over 18,000 parking lot attendants have college degrees

Source: The Chronicle

The United States has lost 32% of its manufacturing jobs since 2000

Millions of American families have decided to cut back on things such as insurance coverage

For example, the percentage of American households that have life insurance coverage is at its lowest level in 50 years.

Unless Congress acts approximately 2 million Americans will stop receiving unemployment checks over the next couple of months

Source: CNN Money

A Pew Research centre Poll in June discovered 55% of the U.S. labour force experienced unemployment, a pay decrease, a reduction in hours, or an involuntary move to part-time since the economic downturn began

According to Richard McCormack, the United States has lost over 42,000 factories since 2001

In the United States today, 317,000 waiters and waitresses have college degrees

But this is what we get for creating the biggest debt bubble in the history of the world

For decades we have been digging a deeper hole for ourselves by going into increasingly larger amounts of debt. In America today, our entire economy is based on debt. Even our money is debt. We were fools if we ever thought this could go on forever.

Just think about it. Have you ever gone out and run up a bunch of debt? It can be a lot of fun sitting behind the wheel of a new car, running your credit cards up to the limit and buying a beautiful big house that you cannot afford.

But in the end what happens?

It always catches up with you.

Well, our collective debt is starting to catch up with us. There is a sea of red ink on every level of American society. It is only a matter of time before it destroys our economy.

If you think that things are bad now, just wait. Things are going to get a whole lot worse. A horrific economic collapse is coming, and it is going to be very, very painful.

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