The Recession is Over?

By Shikole Struber

Apparently the recession is over. Could've fooled us. Personally, I think that this conclusion was reached because of how the statistics used are calculated. I was never big on economics, actually I hated that class with a passion. But I did take one economics class in college. While there I remember learning just one important thing.

The "unemployment rate" is a lie.

This number counts only those who are unemployed and still actively searching for work. This recession has been so long and so bad that many people gave up searching, at least for a while. I think that is why economists have claimed the recession is "over." The technical numbers show that unemployment is improving. I think the real picture is a lot less pretty. I can see the unemployment rate seeming better but because more people have given up looking.

I also partially blame structural unemployment for this issue. The skills needed in the job market right now don't match the skills of those who are unemployed. The market is looking for well qualified teachers, nurses and people in technology. The most popular majors include business, international studies and social sciences. Not quite a match.

I won't believe the recession is over until it's calculated more accurately. And until I have a job in my field that pays more than I'm making now.


Post a Comment