Thursday, December 12, 2013
Paul Craig Roberts And 23.2% Unemployment
Everybody's favorite conservative Paul Craig Roberts unpacks the reality of the current U.S. employment situation over on Counterpunch. The truth is pretty bad, far worse than most would ever suspect; 23.2% functional unemployment is a disaster for the entire United States. Put this together with the latest titanic failure with regards to unemployment benefits, and the sheer number of people without sufficient--or ANY income--after the first of the year will not be enough to sustain let alone grow our economy into robust health. By any reasonable analysis, even a 7% unemployment rate year after year is an existential threat to our economy and our society; the underemployment and historically low labor force participation are the most important issues in the United States today.
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