I was listening to a local, very mainstream news broadcast last night, and the report was that, while Oregon’s unemployment rate was 12.2%, well above the national average, the underemployment rate was something like 23%. Now, as far as I can ascertain, the actual jobless rate seems to run at least twice as high as the rate of those collecting benefits (a rate which, depending on who is citing it, may or may not include those on the “extended benefits” currently available.) And those total jobless estimates, which frequently run closer to three times the “unemployment rate,” don’t count those who have “given up” on finding a job, nor do they count various other categories of people not on the job market because they are receiving pensions or government benefits.
So, taking a conservative estimate… 25-30% of the US population would like to work, but can’t find a job, and another 20-25% have a job, but not enough of one to make a living. That’s half of us accounted for…
Is it broken yet?
