I just had a freakish revelation. I just heard a story on CNN about Wall Street is celebrating because the market is up. The reason that the market is up is that the unemployment figures improved this week.
Do you know why unemployment figures improved all of a sudden this week? In part because there have been temporary (seasonal) minimum wage jobs opening up in retail stores. The other, probably much larger part, is the cycle related to Bush's legislation on unemployment. Because of the extensive unemployment, he signed a law that allowed people who are unemployed for extensive periods of time to extend their benefits for 12 week increments. People have to apply for the extension, and when you file for the extension, you drop off the unemployment ranks during the time it takes to process your application. When I did this in July, it took them 6 weeks to process my application.
Most states pay for 6 months of unemployment during a year. Anyone who lost their job in 2009 got state funded thru the end of June. When people filed for the Bush extension, that extension ran out the end of last week. Unemployment ranks dropped. People haven't found jobs, they just lost their unemployment insurance, which actually should increase poverty levels.
What made me sick about this news is the fact that people in Wall Street are celebrating poverty in America. The people finding part time temporary jobs are not really recovering. The people that fell off unemployment just got poorer. And yeehaw, the people rich enough to invest in stock are getting a better dividend for Christmas. On the backs of the poor. And the irony is that the people earning those dividends don't even really need them.
And please don't think that Christmas hiring is going to help the situation. I've been putting 5 applications a day for those jobs and have only received 1 response in the last few weeks. The ratio of people looking for jobs to open jobs is about 7 to 1 right now.
The thing that tees me off more than anything right now is the fact that politicians are running on platforms that don't include how to fix the unemployment situation. Poverty will not be fixed by repealing health care, nor from reducing the deficit, nor by extending tax cuts to the rich (that hasn't done anything for jobs in 10 years). And don't get me started on the argument to protect "small businesses". Do you realize that companies like Bechtel (largest construction company in the world), Fidelity, Chicago Tribune and other huge corporations are classified as "small businesses"? A small business is so classified not because of its revenue (some make multi-billions in profit a year), but because of the number of owners?
Fix the job situation and poverty ranks will decrease. And be suspect when Wall Street celebrates.
Do you know why unemployment figures improved all of a sudden this week? In part because there have been temporary (seasonal) minimum wage jobs opening up in retail stores. The other, probably much larger part, is the cycle related to Bush's legislation on unemployment. Because of the extensive unemployment, he signed a law that allowed people who are unemployed for extensive periods of time to extend their benefits for 12 week increments. People have to apply for the extension, and when you file for the extension, you drop off the unemployment ranks during the time it takes to process your application. When I did this in July, it took them 6 weeks to process my application.
Most states pay for 6 months of unemployment during a year. Anyone who lost their job in 2009 got state funded thru the end of June. When people filed for the Bush extension, that extension ran out the end of last week. Unemployment ranks dropped. People haven't found jobs, they just lost their unemployment insurance, which actually should increase poverty levels.
What made me sick about this news is the fact that people in Wall Street are celebrating poverty in America. The people finding part time temporary jobs are not really recovering. The people that fell off unemployment just got poorer. And yeehaw, the people rich enough to invest in stock are getting a better dividend for Christmas. On the backs of the poor. And the irony is that the people earning those dividends don't even really need them.
And please don't think that Christmas hiring is going to help the situation. I've been putting 5 applications a day for those jobs and have only received 1 response in the last few weeks. The ratio of people looking for jobs to open jobs is about 7 to 1 right now.
The thing that tees me off more than anything right now is the fact that politicians are running on platforms that don't include how to fix the unemployment situation. Poverty will not be fixed by repealing health care, nor from reducing the deficit, nor by extending tax cuts to the rich (that hasn't done anything for jobs in 10 years). And don't get me started on the argument to protect "small businesses". Do you realize that companies like Bechtel (largest construction company in the world), Fidelity, Chicago Tribune and other huge corporations are classified as "small businesses"? A small business is so classified not because of its revenue (some make multi-billions in profit a year), but because of the number of owners?
Fix the job situation and poverty ranks will decrease. And be suspect when Wall Street celebrates.











I'll also see many cashing their checks at the grocery stores in town and they'll have obviously had a few beers - plus a 30 in their cart.