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View Diary: Have the Oligarchs Won? (31 comments)

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  •  Persistent Unemployment since Reagan? (2+ / 0-)
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    wdrath, DBunn

    What were you doing in the 90's?

    Maybe I'm in a bubble because I live in DC and work in Technology but "persistent unemployment" didnt seem to be a pressing issue in say 1996-1999 when the Dow Jones DOUBLED and everyone I knew was switching jobs and I had to raise salary offerings every month in order to fill spots on my staff.

    Красота спасет мир --F. Dostoevsky

    by Wisper on Fri Apr 05, 2013 at 05:02:28 PM PDT

    •  what that's alluding to is... (3+ / 0-)
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      3goldens, BrianParker14, blueoasis

      ...the fact that the official unemployment rate has been articificially lower due to the change in the way the numbers are calculated ever since the Reagan administration. The numbers would have been higher ever since following the formula before that.

      Most importantly, these numbers do not count people who are unemployed by are no longer receiving unemployment benefits or have given up looking.

      When the official unemployment numbers showed this country to be at what was called "full employment," there were still many people then who knew that was a joke...because we were not really at full employment.

      And then there are segments of the population where unemployment is always higher than the national average.

      You're correct, there were periods when unemployment did not seem as severe at other times. However, there were a lot more unemployed folks even at those times than was reflected in the official numbers.

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