Real unemployment rate of the U.S.A.
The current “official” (U-3 index) unemployment sits at 9.1% (28.4 million people). The broader U-6 index includes those:
- who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the past twelve months. This also includes the subset of ‘discouraged workers’ who have cited economic reasons for not looking for work.
- who have had to settle for part-time jobs due to current economic situations.
The U-6 value currently stands at 16.3% (50.8 million people).
Happy Labor Day weekend!
Sources: U.S. Bureau of Labor Statistics , Federal Reserve Economic Data
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First-time study showing empirical evidence confirming the conventional wisdom that corporations actually do control most of the world’s finances. Left: Interconnecting network of nearly 43,000 corporations (TNCs), with node sizes representing the ‘tier of control’ over others. Right: Zoom in of core. Part of the economic “super-entity” that controls nearly 1/3 of global wealth.
From the scientific paper: In detail, nearly 4/10 of the control over the economic value of TNCs in the world is held, via a complicated web of ownership relations, by a group of 147 TNCs in the core, which has almost full control over itself.
Non-scientific write-up of the paper.
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The U.S. is the only developed nation in the world that does not guarantee its citizens any paid holidays.
Source: Organisation for Economic Co-operation and Development (OECD)
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Percentage change in key economic indicators: CEO pay, S&P 500 Index, corporate profits, average worker pay, and minimum wage from 1990-2005 (in 2005 dollars).
Sources: listed at source page - http://www.faireconomy.org/news/ceo_pay_charts
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Overall federal income tax rates on millionaires, 1993-2009. Since 1993 the tax rates on the wealthy have decreased by about 25%.
Source: IRS and Center for American Progress
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2009 corporate income taxes as a percentage of GDP.
Although on paper U.S. corporations appear to pay high tax rates compared to most countries, in reality it is not the case. Through tax loopholes, American corporations pay the 2nd lowest rate in the world (after Iceland). Some corporations, like GE and Exxon-Mobile, paid zero taxes last year.
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How many workers could be supported by the average pay of an S&P 500 index CEO?
Source: AFL-CIO
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Top ten shares of world military expenditures in 2010
Source: SIPRI
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