Time For a New Plan: Frightening Jobless Numbers Show Flaws in GOP Austerity Agenda
By Sarah Jaffe, AlterNet
Posted on July 8, 2011, Printed on July 16, 2011
Republicans say government cannot create jobs. It certainly seems capable, however, of eliminating them.
The jobs numbers for June are out and to call them “bad” would be an understatement. The jobless rate is up to 9.2 percent; if you include those who stopped looking for work (what the Labor Department calls “marginally attached” to the labor force) and the underemployed (those with part-time work who need full-time work), the rate is a staggering 16.2 percent, up from 15.8 percent last month.
To put it in perspective, the economy added only 18,000 jobs—and 14.1 million people are unemployed. Those numbers will barely keep up with population growth. Workers are currently more likely to drop out of the labor force than find a job.