Friday, January 8

Americas Unemployment Situation - still at 10 percent

Stabilization? Not really.

That is the latest intent that the current administration wants to associate with Americas unemployment.

Americans lost another 85,000 jobs during the month of December. As a whole, the American economy has dropped 7.2 million workers from active jobs. This all began according to many when a recession first hit the American economy in December of 2007.

But - is there light at the end of the tunnel yet? Have we even glimpsed the end of the tunnel?

The administration is attempting to make sure that many of us start to hope to see the end of the tunnel and the future of the American economy. The administration also wants you to know that the future economy is going to be built on a "new foundation".

The new foundation?

Health care and the Health care industry as a whole.

The administration presented a new study from Harvard University and USC economists today that estimates somewhere around 2.5 to 4 million jobs could be created over the next decade if the Health care reform is passed. The report claims the ability to create 250,000 to 400,000 jobs a year during the coming decade.

The study is available on

The same website also has a report called "The Recession Marches On". The report states:

The unemployment rate held steady at 10.0 percent in December, but the labor force participation rate fell from 64.9 to 64.6 percent. Approximately 1.5 million workers exited the labor force over the past year, and the share of U.S. population with a job fell to 58.2 percent, a low not seen since 1983.

The American workforce sits at 58.2% of the population.

In addition the report on AmericanProgress states:

The typical unemployed worker is taking 20.5 weeks to find a new job, and the share of the unemployed who are “long-term unemployed”—that is, out of work and actively seeking a new job for at least six months—was 39.8 percent in December, both indicators hitting another record post-World War II high.

The unemployment rate remains unchanged for the month of December.
It remains at 10 percent.

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