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Peanut Santiago
01:51 AM on 07/10/2013
Worse, most of those are part time, low wage, no benefits McJobs that can't support one person never mind a family.

Something is going to happen sooner or later, especially since they are going to crash Wall Street again sooner or later and usher in a terrible depression.

And the people will NOT be as ignorant and compliant as during the 1930's depression either.
01:55 AM on 07/10/2013
Why is it reasonable to expect a McJob to support a family? A Mcjob should teach a person of reasonable mental and emotional capacity that they need to increase their jobs skills and/or education to obtain a better job that can support a family. A Mcjob is a beginner's job, not a career.
Left is right; Right is wrong
02:19 AM on 07/10/2013
All jobs should be careers. Everyone deserves a good life. No one deserves to suffer, just because they don't meet your idea of ambition. In Germany, where they have been operating under a Constitution written for them by the FDR administration *yes, a liberal democratic administration* it is very difficult to fire an employee. Worker rights are written into the constitution. Every corporate board of directors is 50% management, 50% employees. When you fire someone, you ruin their lives for a time. This is taken seriously in Europe, and employers are made to understand that their first responsibility is to the culture as a whole, and directly, to the individual in his care. Humans are not "Resources" as they are here. They are neighbors, countrymen, fellow human beings. Europeans sleep well at night and can work relaxed during the day. You can sense this sense of wellbeing where ever you are. It's a beautiful system. We should have it here.

Some Americans seem to take pride in how much stress they endure. This is really strange to me. They seem to want to pass it down, sort of like child abuse is.
05:23 AM on 07/10/2013
Yes - this may very well lead to World War 3 if we go the way we keep on going. And this time the casualty list may actually BE 6,000,000.
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01:36 AM on 07/10/2013
From Manufacturing & Technology News, Volume 19, Number 19, December 18, 2012...

"Many Newly Minted Ph.D. Scientists And Engineers Can't Find A Job"

From a search for "surplus stem workers"
The Myth of STEM Labor Shortages | The John William Pope Center for Higher Education Policy

"...Everybody knows that the best way to get ahead today is to get a college degree. Even better is to major in one of the STEM (science, technology, engineering, and math) subjects, where the bulk of the jobs of the present and future lie. Politicians, business leaders, and academics all herald the high demand for scientists and engineers.

But they are, for the most part, wrong. The real facts suggest that, in many STEM specialties, there is a labor glut, not a shortage.

That is not to say that the STEM subjects aren’t worthy of study—there are many reasons to do so. And if a talented young person really wants a job in a STEM field, he or she can eventually get one, with a little perseverance.

But there is no urgent need for STEM graduates, at least not in a general sense.."
Joseph Zelinski
Stanford retiree
02:03 AM on 07/10/2013
PhD's often have trouble finding work as they want to continue research instead of doing work that a person with a Masters or a BSc. who are better equipped to do the work. Who want to hire a PhD when you only have a masters.. And that is in the best of times. There are fewer Post Doc positions open because of the cutbacks in research.
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10:05 AM on 07/10/2013
Manufacturing needed STEM workers, especially for R&D.

But manufacturing isn't coming back as the U.S. has transferred to a service economy with low-wage jobs the norm.
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01:33 AM on 07/10/2013
In one chart: we have a demand problem, not a skills problem | Economic Policy Institute

"...However, the share of young college graduates working in jobs not requiring a college degree increased over the 2000–2007 business cycle, increased further in the Great Recession, and has not yet begun to improve. Sum finds that in 2007, 47 percent of employed college graduates under age 25 were not working in jobs requiring a college degree, and that this share increased to 52 percent by 2012.

The weak job prospects for these newly-trained, highly-educated workers underscores that today’s unemployment crisis is not due to workers not having the right education or skills, but from weak demand for goods and services, which makes it unnecessary for employers to significantly increase hiring of workers at any level of education. For more information on our economy’s broad-based weak demand for workers regardless of industry, occupation, or education level, see these brief snapshots."
Peanut Santiago
01:52 AM on 07/10/2013
I see college graduates forced to take and even fighting for the right to work part time in a supermarket or fast food.

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09:57 AM on 07/10/2013
It's sad, and it isn't going to get any better.

Paul Craig Roberts wrote an article that the U.S. would collapse by 2017.
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01:30 AM on 07/10/2013
For millions of college graduates, degrees aren't paying off - The Denver Post

"Millions of college graduates who saw a degree as their ticket to a good-paying career and a secure life are working in jobs that do not require their education or even a high school diploma, sometimes leaving them with small wages to pay thousands in student loan debt, according to a new study.

About 48 percent of all working college alumni - not just recent graduates - were underemployed in 2010 as the United States began a slow recovery from the Great Recession, including 5 million graduates in jobs that require less than a high school diploma, according to a study from the Center for College Affordability and Productivity.

"The economy may be in recovery officially, but there are a lot of people who haven't recovered yet," said Jonathan Robe, one of three researchers on the report, "Why Are Recent College Graduates Underemployed." "This is a problem that's sticking around."

When so many graduates are working in retail sales and as bartenders, janitors and maids, the study calls into question the appropriateness of extra spending to reach broad goals for more Americans to earn college degrees..."
Peanut Santiago
01:54 AM on 07/10/2013
A good paying career and a secure life are no longer guaranteed if you go to college and are willing to work hard.

A good paying career might not even be possible to get never mind keep.
And forget about a secure life.....that is so 20th century.
02:42 AM on 07/10/2013
There is a name for this A Depression

and this one will get bigger.
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10:00 AM on 07/10/2013
I was talking to a lady a few weeks ago who said her kids and grandchildren can't grasp what it was like in the U.S. during better times.
02:42 AM on 07/10/2013
You're right this is a Depression, and it will get bigger.
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10:02 AM on 07/10/2013
There's nothing to stop it.
01:10 AM on 07/10/2013
You are doing a wonderful job Mr. Obama, you are, you are LOL
Peanut Santiago
01:57 AM on 07/10/2013
And Bush.....and Congress.....and going all the way back to Reagan and that Congress that started the ball rolling with deregulation, no tax penalties for outsourcing, free trade agreements......

Obama is doing a lousy job on the economy but then again he doesn't have much to work with if you consider Congress and the Supreme Court.......and Romney if he got in was downright scary with his corporate raider Ayn Rand capitalist ideas.
Black Rhino
08:30 AM on 07/10/2013
Didn't deregulation really start with Carter ?
12:48 AM on 07/10/2013
There are also 8 employed people competing for those same openings. Don't worry though, our government is trying to give amnesty to over 20+ million illegals to so they can compete for those scarce jobs!
Peanut Santiago
02:00 AM on 07/10/2013
Blame the employers.....they want cheap labor that won't complain or ask for benefits.
They work, get paid, and go away.
So far, most Americans are not that docile.

Really punish employers and stop them from providing the jobs and just watch many illegals go home in desperation.

Right now, some illegals are going home.
Our American recession (in some areas) isn't providing them with the jobs to stay so they go home to their families and friends.
08:33 PM on 07/10/2013
LOl, i blame the employers and the illegals...
slacker snowboarder
Phi Beta Kappa slacker
02:07 AM on 07/10/2013
They already compete for the scarce jobs whether they are legal or not...
12:34 AM on 07/10/2013
Corporate America has all branches of our Government on its payroll and when I say all I mean all. Now ! how did they do it, RR the 40 president of this nation 1981 to 1989 the actor and middle class social conservatives fell in love with what ever he said they voted for social issues instead of real issues from 1981 to now this very group gave away the keys to the store because their so called religious belief on the moral ethic of a person was more important than jobs and the education of our children all the while corporate America pick their candidate and paid for the election because they had the court in their pocket and still do. Now the dem's has Mr. O a real ZERO !
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No longer a cog in The Machine.
12:32 AM on 07/10/2013
One other item overlooked in last month's job report was the U-6 unemployment rate which rose from 13.8% in May to 14.3% in June.
12:13 AM on 07/10/2013
We have more people than jobs........

Let your Senator and Representative know that LEGAL immigration needs to be tied to the unemployment rate.

When the unemployment rate is over 6% let less people immigrate LEGALLY.

When the unemployment rate is under 6% let more people immigrate LEGALLY.

The world adds 75 million more mouths to feed, provide water for, provide energy for and eventually provide jobs for every year.

Around the world you can find a food crisis, a water crisis, a Climate Change crisis, a declining fish stocks crisis, a JOBS crisis and and OVER POPULATION CRISIS.

Every problem is harder to solve with the world ever growing population.

If you can not provide for yourself you can not provide for a child.

Access to family planning services needs to be available to all that want it.

Every country needs to develop a plan to balance its population with its resources; food, water, energy and jobs. Those that do not will be exporting their populations and their problems.
Left is right; Right is wrong
02:30 AM on 07/10/2013
Zero immigration. Period.

Add to this the establishment of moderate to high tariffs on imports and you'll see wages in America SKYROCKET.
05:29 AM on 07/10/2013
How about a 20 year moratorium on the world - NO MORE BABIES!
12:13 AM on 07/10/2013
Every employer should be required to use E-Verify to verify the legal status of anyone they hire.

Employers that hire anyone here illegally should be fined and prosecuted.

Report employers that hire illegal labor

Employers are the problem.....

How to Anonymously Report Employers Hiring Undocumented Immigrants
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12:34 AM on 07/10/2013
I'm going to bust about half a dozen companies that employ undocumented immigrants.
Peanut Santiago
02:05 AM on 07/10/2013
Employers are the problem, not the desperate poor who immigrate illegally from other countries. didn't know how to report companies????

With internet search engines????

I do not report anybody.
I know how many illegals live and suffer and I will let others act if they want.
Being lower class (due to chronic illnesses) all my life....I guess I can't go after people whose only crime in general is wanting to get out of poverty and seek a better life.
****I know some criminal illegals who were deported though and good riddance.
12:12 AM on 07/10/2013
Both legal and illegal immigration need to be tied to the unemployment rate.

Bringing in cheap labor only drives down wages and increases unemployment.
12:00 AM on 07/10/2013
Thumbnail sketch: During the great depression there was 25% unemployement? Today there is, in more accurate terms, probably half that with the long term unemployed and early retired and permanent youth. so what 12-15%? This is what the media should be looking at, not this 7.8% claim by the gov.
09:59 PM on 09/07/2013
It is 20 percent if it is anything. And that doesn't include the underemployed and i a national is grace how these scum bucket employers treat their workers.
06:03 AM on 09/08/2013
so do you mean to say I should forget about getting a cost of living increase again for the seventh year in a row next year?
11:54 PM on 07/09/2013
3 People competeing for every one job opening ????


Apparently the article writer has not been paying attention to the economy.

And no, I did not read the article, I dont need to.......
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12:36 AM on 07/10/2013
I doubt you could read it at all.
09:07 AM on 07/10/2013
You have a job....

Any argument you may try, holds no merit.

Any point you try to make, will be moot ... against the long term unemployed.

Dont even bother .... Thanks
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11:33 PM on 07/09/2013
U.S. workers' share of national income is at an ALL-TIME low:
FRED« Nonfarm Business Sector: Labor Share

While corporate profits are increasing:
FRED« Corporate Profits After Tax

Mainly because of reduced wages and benefits:

"JPMorgan’s July 11, 2011, “Eye on the Market” newsletter put it, “Reductions in wages and benefits explain the majority of the net improvement in [profit] margins… US labor compensation is now at a 50-year low relative to both company sales and US GDP.”

And prices keep rising:
FRED« Consumer Price Index for All Urban Consumers: All Items Less Food & Energy
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11:10 PM on 07/09/2013
Recession Becoming Permanent? | Shadowed Forest of World Politics

"When the proportion of a nation’s population that can’t afford food without welfare nearly doubles overnight, that country is in crisis. When that explosion of dependency plateaus and stays there for years, the system needs changing.

The Congressional Budget Office just issued a grim graphical picture of a declining nation that has just experienced not a “tough patch” but a social revolution that looks like a permanent step backwards. After 15 years of a steady 20-25 million Americans using food stamps, between 2008 and 2011, that number exploded to 40 million and continues to rise, with further rise projected to the 45 million-level, perhaps followed by a decline by 2020 to “only” 37 million – still 10-15 million more people than the pre-2008 norm!


Whether the U.S. can survive like this or not may be debatable, but two things are clear: the recession is not over; it is getting worse…and so is the distortion of a society that had been getting more egalitarian for half a century and is now headed in the opposite direction."