25+% unemployment for 3+ years isn't already a depression?
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is that american unemployment measure or really counting all the people out of work?
Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free American and do not reflect the opinions of any person or company that I have had professional relations with in the past 59 years. meep |
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Re: is that american unemployment measure or really counting all the people out of work?
In Greece, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. BLS: The official unemployment rate for the nation is the number of unemployed as a percentage of the labor force (the sum of the employed and unemployed). It seems pretty comparable. Greece is suffering and has been for a long time. Cheers, Scott. |
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For one thing BLS has the notion of "discouraged workers".
These are folks that have given up and aren't even looking for a job. They are not counted as unemployed! That's why even when new jobs shoot up the unemployment numbers as a percentage often don't change. The discouraged workers start looking again and then are suddenly counted as unemployed. Alex "There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." -- Isaac Asimov |
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If it's measured like in the US, then yes.
That's about how bad in got in the US. Many folks that lived through that in the 1930's in the US never got over it mentally. "Brother, can you spare a dime?" But, I'm not sure the unemployment measuring in Greece is the same. The US numbers underestimate reality. Also, the Greeks could look for work elsewhere in EU. Cultural and language issues don't help, however. That's another weakness in the EU. Alex "There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." -- Isaac Asimov |