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View Diary: Gain in payroll jobs higher than expected. Unemployment rate falls to 7.5%. Revisions soar. (77 comments)

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  •  U6 is going to be the hardest thing to fix. (3+ / 0-)

    It requires either an overabundance of jobs (almost no unemployment a la a 90s style boom) or an overhaul of the American workplace as a whole.

    •  Exactly. (0+ / 0-)

      And neither seems to be on the horizon.

      We're already looking at the creation of an American-style Kurzarbeit in which the working hours get shorter but the benefits get dropped. That's for hourly workers, of course. Salaried workers get to spend 75 hours a week at the office with no OT. Yet another widening economic gap. The only way to reverse it is going to be through legislation, and the executive-financial elite -- well, I won't say it owns the legislatures outright, but it's leasing them on excellent terms.

      "The great lie of democracy, its essential paradox, is that democracy is the first to be sacrificed when its security is at risk. Every state is totalitarian at heart; there are no ends to the cruelty it will go to to protect itself." -- Ian McDonald

      by Geenius at Wrok on Fri May 03, 2013 at 09:02:34 AM PDT

      [ Parent ]

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