The Real Recovery | October 27, 2009 | 21 comments

'Underemployment': Is the recession really ending?

source: http://blogs.current.com/news/2009/10/27/one-fifth-of-californians-are-underemployed/

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afitzgerald
FROM THE NEWS BLOG:
According to the standard unemployment rate 12.2 percent of Californians are out of work. But there's another figure kept by the Employment Development Department called 'underemployment' which represents people without jobs, people who have to take lesser or freelance employment or people who have given up looking. That number is 21.9 percent of Californians. One fifth of the state.

When we talk about the recession, we tend to follow economists' lead on when the recession begins, ends, etc. In theory, our national economy in aggregate will start growing (or has already started growing) and we will soon 'be out of the recession'. However most economists are saying it will be a 'jobless recovery' - meaning that the economy will grow but unemployment will stay the same. And if unemployment stays the same - just how much bigger is the national underemployment number? How much longer will people who took lesser paying jobs or moved into the freelance world or just plain stopped looking for work to live off their savings while the clouds passed - how much longer will those people be affected by the recession?

As the Dow goes up and the bankers at Goldman Sachs get fat bonuses again, I think this is a concerning number. The difference between economists' balance sheets and the experience of the rest of the country. What do you think? Are you affected by this? Is this something that concerns you? Something you would want to know more about?
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21 comments // 'Underemployment': Is the recession really ending?

  • CreditFigaro
    • 0
      CreditFigaro  

    • Thanks for the brain floss, MM.

      I loved this presentation.

      It's true, things shall become cheaper and cheaper, and eventually... what?

      We all are in good shape, enjoy all of the beauties of life for LOOONG amounts of time with little effort, and great self actualization in the form of education and self reflection.

      Sounds good to me.

    • 2 years ago
  • Gravity_Man
    • 0
      Gravity_Man  
    • CreditFigaro:

      If every woman on earth had the beautiousness of a Gina Lollobridgida I fear not a lot would get done anyway so we darn better have all the major problems solved first. The days wouldn't be long enough. The real test has yet to begin. That's too bad that MM has fallen to such a low state too. He isn't ready.

    • 2 years ago
  • MilchMann
    • 0
      MilchMann  
    • CreditFigaro:

      Gravity_Man, I am not entirely sure what you meant by that Sir, but I am going to take it in the best since possible. I for one can not stand laying around all day. I also have absolutely no idea what you find irresistible in Gina Lollobrigida, but to each there own...

      More to the point though, I am addicted to thinking and tinkering... if it were all done for me I would loose it... besides carnal pleasures, and drinking a beer on a pristine beach are only really fun because you do not do them every day.

      Green Day - Dookie - 'Longview'

      "When masturbation has lost it's fun, you are fucking lazy"

      Think about it for a minute...

      Then again, maybe you were just joking... sarcasm is hard to pick out on the internet sometimes...

    • 2 years ago
  • Gravity_Man
  • MilchMann
    • 0
      MilchMann  

    • So let me ask you; what happens when we learn to automate creativity? Do we just lay around and make babies all day?

      For the time being though, the man is right, and if you are in a field that involves rote process of any kind, people like me are busier than ever designing you right out of your job. That is harsh, I know, every once in a while I feel bad about it, but then I look around and see all of the absolute shit that is bought by the plebeians running around, like iPhones that are driving the market for pushing you right out of your job... and then I chuckle instead.

      Life is tough, and you will drown if you try and fight the tide, you have to swim with the current to make it back to shore.

      Good luck to all of you who now think I am an ass hole...

    • 2 years ago
  • MilchMann
  • MilchMann
  • MilchMann
  • MilchMann
  • MilchMann
    • 0
      MilchMann  

    • Hmm, this is quite intriguing indeed. Social darwinism to the core too.

      I have to agree with saladin about the drive of corporate greed, but in reality, you harbor the same sentiments, you want what is best for you and those close to you. From the stand point of the corporation, they are doing what is best for them, and that humanization and stark parallel is to often forgotten by those struggling at the bottom... not to say I am at the top my self.
      Neither am I am at the bottom either though, and there is a reason for that which I will let Dan Pink explain to you in the videos to follow... After the last one, I will explain the real kicker to the whole thing.

    • 2 years ago
  • Prijedor
    • 0
      Prijedor  

    • Corporations were sending jobs over seas so they can make more money, but if americans have no way of making money, how will americans be able to buy their products, even if its a dollar, if I have no job I will not have money to buy it.
      I bet none of them big executives thought that one out all the way, all they were concerned is that their profits will be a lot higher

    • 2 years ago
  • CreditFigaro
    • 0
      CreditFigaro  

    • It's a question of systematic overhaul of our philosophies towards greed.

      I like this, as the underemployment rate is the more accurate indicator of our economic health. Just like the Net Domestic Product is more important than the GDP.

    • 2 years ago
  • carmalite
    • 0
      carmalite  

    • No. Unless they have the courage to do something about the unfair trade agreements and the incentives for American corporations to leave our workers high and dry, nothing but the market is going to get better. Mainstreet will just limp along.

    • 2 years ago
  • Reed_me
    • 0
      Reed_me  

    • Totally agree Saladin. The problem is that American people don't buy american-made products. Small businesses are being put out of business by huge corporations bc Americans don't understand the importance of small businesses.
      In 2004, 60-80% of jobs created were from small businesses! Without them, unemployment drops!

    • 2 years ago
  • sugarlilly
  • Saladin
    • 0
      Saladin  

    • I said it another story but I'll say it as many times as it needs to be said for it to stick...

      ...this is NOT your economy. This is not your country, these are not your jobs.

      This is Disney's, Goldman Sach's, General Electric's, Exxon's and Viacom's economy. You're the useless peasant they shuffle around and pay just enough wages in order to ensure you'll keep buying their useless shit.

      This underemployment has been a reality for decades now, but economists constantly point to "growth" and "GDP" as the measure of economic sanity in the country. Not realizing (or not caring) that a multinational corporation will always grow and return larger profits because otherwise it dies.

      But that doesn't mean the rest of us are doing well at all.

      You watch and see, they'll say the recession is over once the Dow hits 12,000 or something like that, the unemployment will stay but they'll hide the number somewhere and America will be "prosperous" once again!

      They don't call it "dead peasant's" insurance just to be cute, you are a peon and they are the Feudal Lords. Welcome to the New America.

    • 2 years ago
  • remanns
  • Gravity_Man
    • 0
      Gravity_Man  
    • Saladin:

      In which case it would behoove us down at the peasant level to have a peasant's economy mostly of barter and help each other out and drop away from playing their game, which would probably be just fine with them anyway. They've already pushed the wages so low we no longer matter. They aren't after our bucks they're after the world's bucks now.

      God Help the World.

    • 2 years ago
  • Incredulous
  • JohnA
  • remanns
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