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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (15861)	7/22/2009 8:04:36 PM
From: DuckTapeSunroof	Respond to of 103300

Re: "why is unemployment approaching 10%?" It will probably approach 13%. (If you look at U-6, I would not be surprised to see it finally hit 16% or 17% before it topped and - hopefully - began to recede.) As any introductory text in economics will explain, the various economic indicators are grouped into three broad groups: "leading", "coincident", and "lagging" indicators. Employment is, and always has been, one of the most lagging of indicators. It will be many months AFTER a recovery is confirmed before classic economics would tell us to expect any decline in the rate of unemployment. Perhaps (sadly) even longer then normal this time round because the rate of LABOR UTILIZATION (such things as 'hours worked' by currently employed people...) is at a post World War II LOW right now. So, most likely, the first thing that begins happening in an economic upturn is that companies try to squeeze more HOURS out of their current workers before they need to hire more....