"Any society that would give up a little liberty to gain a little security will deserve neither and lose both." ~ Benjamin Franklin

Easy to read Economic stats

>> Monday, October 11, 2004

Really, trust me it's all laid out in layman's terms from The Heritage Foundation.

Summary:


  1. The US has lost payroll jobs (people employed by companies) but has gained jobs overal if you count the self-employed, consultants, contractors and people who work on commission (using a household job survey).
  2. Applications for unemployment are well below the 25 year average.
  3. Manufacturing was hit hardest with job losses, however this is a world-wide phenomenon. The cause is higher productivity and computerization.
  4. Insourcing: Today, more than 5.4 million jobs in America are the result of insourcing—that is, they have been outsourced from abroad into the United States.
  5. The poverty rate is slightly lower today than it was in 1998
  6. About 38% of those in poverty in one year have moved up to middle-class earnings within three years. A slightly lower rate move from upper-class earnings to middle-class earnings within three years.

2 comments:

Anita 6:18 AM  

I'd love to see a comparison of the U.S. poverty level income with the incomes in Europe. How does our income structures compare? I lived in the UK for a year. Their upper middle class lived like our lower middle class does here . . .

Jody 5:04 PM  

Anita- I spent quite a bit of time trying to find numbers of some sort to compare poverty level income in other countries to ours. I just can't find it.

I can tell you that France, Germany & Russia all have a much higher unemployment rate that we do. The only one better, that I found is the UK, below 3%.

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