GunSlinger OIF II wrote:
Kmarion wrote:
S.Lythberg is absolutly right.
most americans are not in air conditioned office jobs. thats not accurate.
In a way, it is accurate. In other ways, it isn't. We do consume more than we produce, but some of us are doing a lot more consuming than others. The wealth disparity present in America makes it difficult to gauge the exact nature of the economy from the average person's perspective.
All that is certain is that underemployment is going up, which is a factor often obscured by unemployment figures. People that are part time employed are still considered employed overall, but when you consider how many of us are currently unable to find full time work, the unemployment rate is very limited in its worth as a measure of economic growth.
What we need is a more accurate way to measure underemployment, but that's far more complicated than measuring unemployment. Also, the unemployment rate only counts people that are actively looking for work, so there are always more people unemployed than the unemployment rate actually calculates.
A much better measure of economic growth is the real annual income of individuals. When accounting for inflation, this figure has fallen during this decade. Our standard of living is slowly falling, even though our GDP per capita has been rising. This paradox is a result of how the rich are getting so much richer than the rest of us that it brings up the national GDP enough to mathematically raise the GDP per capita.