For John, BLUF: While unemployment, overall, is down, Food Stamps are up, and unemployment for those 16 to 19 is over 20%. Nothing to see here; just move along.
My most recent previous blog post was on the 7.8% unemployment rate, in which I suggested that what the numbers were really saying is that people are falling out of the job market and that this is not a good thing. Also, more folks are going to part time work, which almost always means no benefits.
Another indicator of this problem is the 28 September released report on SNAP (Supplemental Nutrition Assistance Program) (A US Department of Agriculture Program), which showed even more people receiving help, both persons and households. This is discussed at the blog Zero Hedge, here.
Let us note that the SNAP report lags the Unemployment report by a month. We should know by the end of the month if there is a down-tick regarding SNAP enrollment.
In the mean time, the younger folks are not doing well.♠ Here are THEIR Unemployment Rates:
- Whites, both sexes, age 16-19—21.2%
- Blacks, both sexes, age 16-19—36.7&
♠ Again, I whine about using age 16 as the beginning of employment. This is no longer the 1930s. Sure, not everyone graduates from high school, but that is what we, as a society, expect of our teenagers.
-0 W W 8
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