There Are 100 Million Working Age Americans That Do Not Have Jobs
About six million people claim they want a job, even though they haven't looked for one in the last four weeks. If they were to all start applying for work again, the unemployment rate would suddenly shoot up above 11%.
Also, announced jobs cuts rose 7.1% in April, according to Challenger, Gray & Christmas, to 40,599 — and up 11.2% from last April — another bit of evidence that the jobs market isn’t doing well.
In 1983, the bottom 95% had 62 cents of debt for every dollar they earned, according to research by two International Monetary Fund economists. But by 2007, the ratio had soared to $1.48 of debt for every $1 in earnings.