11 Reasons Why the Unemployment Crisis Is Even Worse Than You Think

From Alternet: http://www.alternet.org/economy/152401/11_reasons_why_the_unemployment_crisis_is_even_worse_than_you_think/

Here are 11 unemployment facts that mass media underreport or ignore completely.

By Michael Thornton
September 14, 2011

President Obama recently addressed the nation during a joint session of Congress and the main theme of that address was the need to create jobs, lots of jobs, millions of jobs. The Great Recession has cost US workers millions of jobs and those jobs have not come back as quickly as they disappeared and in many cases those jobs will never return. According to the Economic Policy Institute, “In total, there are 6.9 million fewer jobs today than there were in December 2007.”

That is only a small part of the jobs-hole story, a story that is often ignored, overlooked and oversimplified by mass media.

The media has failed to present the unemployment problem, with all its associated economically devastating consequences, in the manner it deserves. It’s possible that unemployment facts and figures don’t translate well for advertisers, or they are too cumbersome to present in a two-minute segment. Whatever the reason, the mass media seem to avoid unemployment details as they would avoid describing and filming fresh road kill during a dinnertime newscast. While some excellent blogs clearly explain unemployment data, such as Mish’s Economic Trend AnalysisCalculated Risk and Economic Populist, mass media sites are absent.

The unemployment rate remained at 9.1 percent for August. Unemployment to the mass media generally centers on that single point within the Bureau of Labor Statistics (BLS) monthly employment report. There is passing mention of discouraged workers and the underemployed, but the true scale of the jobs crisis is given scant attention considering the magnitude of the problem.

What follows are 11 unemployment details that mass media underreports or ignores completely. This list will not be recalled fondly as a top-10 list of best quarterbacks or favorite vacation retreats would, but it’s where the REAL unemployment crisis is exposed.

Continue reading at:  http://www.alternet.org/economy/152401/11_reasons_why_the_unemployment_crisis_is_even_worse_than_you_think/

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