People who still have jobs are faring worse than at any time since the Great Depression, a USA TODAY analysis of employment data found. Furloughs, pay cuts and reduced hours are taking a toll on workers who so far have escaped job cuts.
The employed worked fewer hours in May ”” an average of just 33.1 hours a week ”” than at any time since the Bureau of Labor Statistics began counting in 1964. Part-time work is at a record high. Overtime is at a record low.
The magnitude of job losses ”” 6 million jobs gone, a 9.4% unemployment rate ”” has overshadowed the groundbreaking nature of the nation’s employment troubles, especially the financial decline of those still working.
Back in the bad-ole Bush days the media would have reported all the “underemployed” statistics, too. Most recent figures place that figure (the BLS “U6”) at 16.4%. Nary a word from the medial. Spoils their Obamamessiah narrative.
Hmmm. This report supports those who claim that this recession is the worst since the Great Depression. But that claim is still disputed.
Regardless, as bad as things are in America, they are far worse in many other countries, with Russia perhaps having the worst of it.
This gives the Church of Jesus Christ a chance to shine. Many, many people are stressed out and in need. But will we rise to the challenge?
David Handy+