Unemployment Rate sky-rockets!

We keep hearing the numbers bantered about. Unemployment is at 10%; unemployment is at 10.5%. I found information on a new search engine, www.glearch.com, and Encarta which indicate that in the 1930's Great Depression the unemployment rose to almost 25%. Wow, and we are ONLY at 10% now. Things must not be too bad, right?

I believe that today's published unemployment figures are understated. I know of many (and you all know of some/many) people who are still 'employed' but who have taken substantial cutbacks in hours working and in pay. Many friends have had their pay rates reduced by 10 to 20%. They have also had their working hours cut from 40 hours a week to 32 or 36 hours a week. They gladly accepted this substantial cut in hours and pay as they still have a job! The alternative for the company was to lay off 15 to 20% of its workforce.

Instead of that drastic measure, and to be as loyal as they could to their workforce, companies reduced hours and pay in lieu of putting good employees out on the street.

How does this affect our unemployment statistics? We have 10%+ or our workforce still working who would have been out of jobs in the 1930s. So, we ONLY have a 10% unemployment rate. Things can't be too bad if unemployment is ONLY at 10% versus 24% in the Great Depression, right?

I recently drove through the Central Valley of California. I was astonished at the number of vacant and deserted buildings! - Everything from gas stations, to warehouses, to massive agriculture buildings, to car dealerships. I constantly receive mailing from automotive dealerships advising me that they are 'losing' their franchise for one brand or another.

Yes, we are in the Greater Depression. What are some things that are different from the Great Depression?

News travels faster - Internet and television versus daily newspapers. We hear ALL the news as it happens, from hurricanes to bankruptcies to up-to-the-minute stock prices.

Preparation. I believe that we are better prepared. I am very concerned about many of the things that are happening in our country and our economy; however, I believe we have learned from the history we have studied. Just the fact that we are cutting hours/pay versus massive layoffs is a huge step in the right direction. We have fewer people who are totally unemployed. Having to cut back on meals out, cable TV, weekend drives, etc. is surely much better than having no income and going through our savings at a rapid rate as it is used for our monthly obligations - we all know how well we Americans save our money! We have all been told and have known that we should save for a 'rainy day.' Well, it is raining on our parades and we either had learned the lesson before or we are LEARNING it now.

Resiliency. We Americans fight back. We have 'been through it before' and we will most likely go through it again. I think of the song, Tub Thumpin' by Chumbawamba: "I get knocked down, but I get up again, you're NEVER gonna keep me down!" That's right, we won't be kept down. We will fight. We will win. We will revive the greatest economy in the World. We will all have employment. We, again, will enjoy all the things we took for granted.

Hang in there. Keep your head up. Keep fighting. Help your neighbor. Let your neighbor help you. Let’s work together. There has never been and there will never be a country as great as this. Let’s write history.