08 Nov, 2014 by Dave Hodges
America has gone back to sleep. The 2014 midterm elections are history and good guys, the Republicans, have kicked out the bad guys, the Democrats. We only have two more years to endure Obama. If it was only that simple. This article is going to briefly examine a cross-section of indicators which are representative of how well our nation, and to some degree, our government are meeting the people’s needs. The general areas which will be examined are employment and income, economic health of the nation as a whole, educational opportunities and heath and wellness and civil liberties. It is time to give America her report card as we brace with great trepidation the last two years of the most corrupt administration in American history.Income and Employment Opportunities “Say it ain’t so” “Say it ain’t so” First and foremost, Americans no longer live in the highest salary paying country in the world. In fact, the United States does not even crack the top ten list of the highest salary paying countries on the planet in which Switzerland, Germany, Denmark, Japan, Norway, Austria, Belgium, Ireland, the Netherlands, and the United Kingdom round out the top ten and pay their workers more than workers in the United States. In fact, the United States only ranks 20th in terms of overall gross pay!
Young adults who are degreed and/or skilled in fields such as engineering or information technology skills, are really wasting their time by working in the United States. Eight of the world’s ten highest-paying countries for information technology (IT) managers are in Western Europe, according to a new survey by Mercer Human Resource Consulting. The survey found that Swiss managers are paid the most, followed by those in Germany and Denmark. In fact, IT management is another field where U.S. workers fail to crack the top ten in income, the United States ranks 14th in IT management compensation. Even debt ridden Spain, Italy and Greece pay their IT managers more than what Americans earn on average.
Unfortunately, the public does not know what the true unemployment rate is in America because the Department of Labor plays games with the numbers. For example, if you hold a real estate license, and even if you have never sold any property, you are considered to be employed by the Federal government. If your unemployment insurance expires, it is assumed that you have found employment, even if you have not. This is referred to as the discouraged worker category.
The “Alternate Unemployment Rate” more accurately reflects the current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were eliminated from official existence by the Federal government back in 1994. That estimate is added to the Bureau of Labor Statistics (BLS) estimate of U-6 unemployment, which includes the previously short-term discouraged workers.
The “U-3″ unemployment rate is the monthly headline number. The U-6 unemployment rate is the BLS broadest unemployment measure, “including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment” as this group would be categorized as the underemployed. When all figures are combined, the Shadow Stats calculations are staggering as the unemployment and underemployment rate is approaching 24%!
Shadow Stats is one of the most interesting financial websites that I have found in recent memory and they are worthy or a hearty recommendation as they give the public an accurate way to compare real unemployment to the government contrived games that are played with the unemployment numbers. The actual unemployment/underemployment rate, nearly 24%, is more than three times the government’s figures for unemployment. Shadow Stats calculations clearly tell us that we are in a very serious depression, or what Gerald Celente often refers to as the “Greatest Depression”. And when we isolate the numbers and only include young adults, the picture goes from bleak to hopeless and these statistics are the fertile breeding ground for revolution.