Good morning. Hope you’re enjoying your coffee, I’m enjoying mine.
If you’re at work, do me a favor. Rub the top of your press board desk, listen to the light hum of those florescent tubes above your head, meditate on the buzz of your computer monitor (this is, of course, for those lucky enough to work indoors and in front of a computer). Savor this moment, be thankful for it.
Why? Cause the Labor Department just announced that the unemployment rate hit 6.1 percent last month. The highest rate since 2003.
All told, that means 9.4 million people out of work right now, 592,000 more than last month.
More ominously, the rate of long term unemployed (people who have been out of work for more than 27 months) rose by 163,000 last month, bringing the total to 1.8 million.
And even more ominously, there’s another 1.6 million people out there who can’t find work but aren’t considered unemployed cause they haven’t searched for a job in the last 4 weeks. (Meaning the real number of unemployed people is about 11 million.) Why? Well, maybe cause they know there ain’t nothin out there for them. There’s a phrase for that: “discouraged worker.” A discouraged worker is someone who expressly states they have not looked for work recently because they don’t believe that are any jobs out there for them. Of the 1.6 million people not counted as unemployed 381,000 were discouraged workers.
The lesson here: don’t hate your job, love that you have one.



4 Comments
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waaaay to spice up my morning Colin, thanks.
(+1000 points for the awesome use of Aesop Rock’s ”Labor Days” in the title.)
What if I love that I don’t have a job? I’m very lucky to have a working husband and low living expenses though. Several of my closest friends at the moment are not so lucky and are just on regular old unemployment, can’t find jobs, or are underemployed at crappy low paying jobs.
I didn’t like my employment options, left work, and am now working towards my Ph.D. I’m not considered unemployed, and in the long-run, its probably the better option, but my choice was definitely influenced by a lackluster labor market. Basically, I too am a “discouraged worker” but one with the ability to make another good use of my time while unemployed. But, I am not included in any of those statistics.
Considering I have a lot of friends with advanced degrees from Ivy League schools that have to stay til midnight every night to stay off the short list of people to be fired, I consider myself very lucky. Those guys are guys I’d truly call “discouraged workers” despite them having jobs.