More costs of the REPUBLICAN (DEREGULATION) DYSTOPIA -

[JohnWxy]

Employed see tough times, too - (USA Today)

By Dennis Cauchon, (USA TODAY)

People who still have jobs are faring worse than at any time since the Great Depression, a USA TODAY analysis of employment data found. Furloughs, pay cuts and reduced hours are taking a toll on workers who so far have escaped job cuts.

The employed worked fewer hours in May — an average of just 33.1 hours a week — than at any time since the Bureau of Labor Statistics began counting in 1964. Part-time work is at a record high. Overtime is at a record low.

The magnitude of job losses — 6 million jobs gone, a 9.4% unemployment rate — has overshadowed the groundbreaking nature of the nation's employment troubles, especially the financial decline of those still working.

~~
~~


The use of pay cuts — the last choice at most companies after hiring freezes, salary freezes and layoffs — shows how the recession is unlike any since the Depression, says Laura Sejen of compensation consultant Watson Wyatt.

(more)

Let's see, 33 hrs/40 hrs = .8275 The Effective employment rate of the "Fully" Employed.

Unemployement rate = .094, so the Employment rate would be (1- .094) or: .906 -- But these people are only working 82.75% of the 40 hour work-week so, factoring: -- (.906 * .8275) = .75 Effective Employment Rate.

So the Total Effective Unemployment rate would be .25 (1-.75) + .094 = .34 or.. 34%.

Ain't deregulation grand? Thank you Corporate Lobbyist Party (Republicans) for your Deregulation Dystopia ... 34% effective Unemployment rate.

..... Thank you Phil Gramm for making Credit DEfault Swaps legal and UNREGULATED (Commodities Futures Modernization Act),

....thank you Allan Greenspan (too expansionist money policy to prop up a weak economy and create a housing bubble)

....and thank you Cheney REgime (for fighting the 50 States Attorneys General who wanted to reign in Predatory Lenders in 2004: see http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783.html">Predatory Lenders Partners in Crime!)


The REPUBLICAN DYSTOPIA, THE DISASTER THAT ATE THE AMERICAN ECONOMY AND POSSIBLY THE AMERICAN DREAM.