Take a look at the government’s graph and statistics for unemployment.

The chart is still spiking up at 9.4% (14.5 million people) in May. 10% unemployment will be broken in July.

The number of long-term unemployed (those jobless for 27 weeks or more) increased by 268,000 over the month of May to 3.9 million and has tripled since the start of the recession.

Manufacturing jobs continue to disappear. New job creation is from government sponsored “shovel-ready” projects and other stimulus projects. The private economy is still shedding jobs.

I am an optimist by nature but I am sick and tired of being lied to about the “recovery”.

“Accounting profits” and even real profits are not a recovery. Companies shrink until they show a profit to preserve shareholder value. Fewer jobs and no growth is not a recovery.

Focus on US capacity utilization and job creation. Until these numbers begin to grow any recovery talk is wishful thinking.

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000

Related Posts:

• You can bet that Jan. unemployment#s will be revised downward like Dec #s (revised downwards to 150k loss from 85k).
• People are ignoring the real economy and focused on propped up stocks.
• Here is a stat for you. Over 80,000 empty buildings and lots in Detroit alone. Whew!!!
• Why people are buying?
• WORST OF CRISIS MAY BE YET TO COME: IMF CHIEF

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