Obviously, Americans Are So Rich, They Don’t Need to Work!
Tuesday, April 29th, 2003I found a terrific smart-ass piece on what the dismal science refers to as “The Employment Situation” at PrudentBear.com. It’s a contrarian site, if you’re interested in that sort of thing, as I am.
If you dig deeply into the government’s own data put together by the Bureau of Labor Statistics (“BLS”), it strongly suggests that many Americans must be far too rich to work. For example, there are 4.8 million slackers who claim they would like a job but haven’t bothered to look for one in the past four weeks (if you don’t look for work, you are not in the labor force). If these same Americans had only looked, the unemployment rate would have been 8.8%. Obviously, they aren’t looking for work because they are rich Americans who don’t really need the money to pay the bills.
People aren’t looking because there is NO point. There are positions advertised, but in the Washington area, this is mostly statutory. What I mean by that is the company (or the contract) has some stipulation that they must advertise outside to fill a position…even if they have every intention of moving an insider into the position. Added to that fun is the fact that most of the (technical) jobs being offered here require security clearances, and this narrows the field a good deal. In the boom years, most of the clever people were earning big money in the private sector, not working for the government, earning 2/3s of what they could earn at some internet start-up or mature telecommunications company.
Anyway, it gets even more satirical, but his math is solid. This deviation in the labor statistics has been noted all over the place, and there is also a thread about it on Plastic.


