more people will be playing online during the day...

Nope, actually education had job growth:

http://finance.yahoo.com/news/467K-jobs-cut-in-June-jobless-apf-749843232.html?x=0&sec=topStories&pos=1&asset=&ccode=

Curse you and your facts! lol

I thought that because I live in California and the news is saying that our education system is giving lots of pink slips to educators.

Interesting too is that the number of people looking for work is lower then expected.

Makes you wonder if it's people giving up, people finding it easier to just be unemployed then work fast food or what...

They say unemployment is the last thing to be fixed though.  You would think the actual loss of jobs would be one of the first however...

Apparently the average hourly worker makes $18.53 an hour too... seems high.

California is giving a lot of pink slips to everybody.

With education jobs on the rise, some of the unemployed might be taking grant money and heading to school.

Any good statistics out there about school enrollment numbers?

That, and IOU's.

http://money.cnn.com/news/newsfeeds/articles/reuters/MTFH88802_2009-07-02_00-42-48_N01478973.htm

Funny that they are unwilling to cut spending because it will hurt the poor, so instead they are givig them IOU's that are worthless.

The "unemployment is the last to be fixed" adage is for normal recessions (i.e. recessions generated by too big inventory). This is a credit-driven recession, where lower consumer consumption is the leading cause of the recession.

So in this case, I think unemployment is one of the leading indicators of how the economy will fare in the future... not something which gets fixed after the recession is over.

Not sure I agree. The cause of this recession is to many houses. Everyone gambled that the wealth of there homes would go up indefinitely. As soon as builders caught up, house values dropped, and everything else is now based off that.

The single biggest component in American personal wealth is home ownership. Inventory of homes is to high, so that value is not near what it used to be.

This is to blame for everything we have seen going forward, so it is an inventory problem.

The inventory based recessions are when manufacturing has to be lowered for a while. In those recessions, factories are idled while inventories are consumed, then when they resume production people are hired again so unemployment gets fixed at the end and after the recession.

You are right, people are poorer due to the value of their homes, but also due to having too much debt. As credit gets harder to come by, and interest rates go up people have less and less disposable income to spend. This is a big part of what's causing the recession, the fact that the consumers are getting hit directly (and consumers are like 70% of the US economy or so I've read many times).

As people get unemployed, that causes more home foreclosures and defaults on debt, which makes people poorer. This causes even lower consumer activity, making the recession bigger. It's a very bad vicious circle which won't get fixed without unemployment levelling off first.