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Were you better off four years ago than you are today?

sunnubiansunnubianA1

 

 

 

Were you better off four years ago than you are today?

December 2, 2011

The release of the November jobs report – showing an 8.6 percent unemployment rate, the lowest in two years – is giving off a glimmer of hope, despite cautionary words from economic analysts. Still, many Americans are continuing to feel the same financial pressures and uncertainty that have become the norm of the new economy.

In this week’s episode of Need to Know, we traveled to northern Ohio to follow up with of the middle-class workers we profiled two months ago. Although they are still employed, they face cuts to benefits and wages that seemed constant and stable just four years ago, before the onset of the economic downturn.

 

Tell us: Do you think you were better off four years ago than you are now? How? Let us know in the comments below, through our Tumblr site or by emailing us atntkonpbs@gmail.com.

 

Last modified: December 2, 2011 at 4:33 pm
 
 

 

 

 

 

 

 

 

 

"I'm just trying to make a way out of no way, for my people" -Modejeska Monteith Simpkins

 

AFRICAN AMERICA IS AT WAR

THERE IS A RACE WAR ON AFRICAN AMERICA

THERE IS A RACE WAR ON AFRICAN AMERICANS

THERE IS A RACE WAR ON BLACK PEOPLE IN AMERICA

AMERICA'S RACISTS HAVE INFILTRATED AMERICAN POLICE FORCES TO WAGE A RACE WAR AGAINST BLACK PEOPLE IN AMERICA

THE BLACK RACE IS AT WAR

FIRST WORLD WAR:  THE APPROXIMATELY 6,000 YEAR WORLD WAR ON AFRICA AND THE BLACK RACE

Last edited by sunnubian
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Noah The AfricanNoah The AfricanA1

The unemployment rate is a "headline" indicator, that by itself, does not tell you the health of the economy or people. We can have full employment if people are simply willing to work for less money. Take the job you have. If you are willing to work for half the pay you are making then another person can be hired with the other half. Thus, more people are imployed but the net result is that the economy really has not improved.

 

Its also true that part-time employment is included in those figures. Thus, you can have 1,000 people lose full time jobs and another 1,000 people gain part time jobs and the unemployment rate remains the same....but people are worse off in the aggregate.

 

What people are not examining is the accuracy of the metrics. In particular, inflation. Inflation is much higher than reported by the CPI. The measure of economic health cannot be done without correct data on inflation. If inflation was measured the way it was back in 1980.....it was reveal that our economy is in a lot worse shape than statistics show.

 

http://www.shadowstats.com/alt...ata/inflation-charts

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