By Jack Hoffman
As unemployment grows, the poverty statistics grow with it. And the anger becomes greater. One wonders: When will the people take to the streets again?
Recently, on his radio talk show, New York City Mayor Michael Bloomberg warned “that if the national jobs crisis doesn’t end soon, the United States will soon see riots in the streets.”
Call it what you want, but the warnings of riots and revolution have been echoed all over the country in magazines, newspapers and talk on the radio and TV shows. Professor Thomas Kochan at MIT’s Sloan School of Management, certainly no bastion of liberalism, not only agrees with Mayor Bloomberg, but also was surprised there aren’t more visible signs of public anger/protests.
The real unemployment figure for the US has now reached a staggering 20%. And just how much is the real under-employment, meaning the figures on those who are now working a bare minimum of what they used to work and earn not so long ago. The figures I have used – and will use – are based on the US Dept. of Labor statistics. Recently, the job crisis has been inflamed with the new reports of poverty in America. That last statement is an obvious fact. If people are out of a job and working at a bare minimal wage Click to continue »