"According to government statistics, if the same number of people were seeking work today as in 2007, the jobless rate would be 11 percent."-The real unemployment rate is 11 percent
Yes, by the magic of the "black" liar in the White House of Death, the Federal Criminal Government's fake "unemployment rate" drops to 8.6%, because, when people stop looking for work because they can't find jobs, they are magically removed from the workforce! Amazing! The Wizard Of Washington does it again! The economy is improving! Bailouts to big banks and corporations with your tax dollars did the trick!
But, as FT.com points out, "middle-skilled jobs" are disappearing, leaving mostly low skilled and low paying jobs or high-skilled jobs that the majority of the population are not qualified for...
In short, the middle-skilled jobs that once formed the ballast of the world’s wealthiest middle class are disappearing.
...
For the remainder of the workforce, including college graduates, it is both increasingly hard to find a secure job and tougher for those who do find jobs to be paid in line with inflation. Most people know that median US income has declined sharply since the late 1990s. Fewer are aware that real incomes also fell sharply in the same period for those with degrees.- Please read the rest: Fears persist the jobs crisis cannot be fixed, says Edward Luce
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