more from business insider
Mort Zuckerman (of all people) has an op-ed in today's WSJ explaining why the jobs situation, which is quite clearly horrific, is even worse than you think.

Here are his points, condensed

* 185,000 workers in the June number were the product of statistical sampling, but could not be verified by the government.
* Companies are asking employees to take unpaid leave.
* 1.4 million unemployed workers weren't counted because they're not searching for work.
* Part-time employment has doubled to 9 million.
* The work week is 48 minutes shorter than when the recession began.
* The number of long-term unemployed (4.4 million) is at an all-time high.
* There were no wage gains in June.
* The goods-producing sector lost over 223,000 jobs just in June.
* When business picks up, businesses will just add hours to existing workers, rather than create new jobs.
* Old business lines are being eliminated entirely, not shrunk down, decreasing the odds that the unemployed will be able to find work.

Says Zuck: It's time for a serious second stimulus -- not a hodge podge of pork and transfer payments, but a truly big and bold infrastructure program (like what we were promised the first time, but which didn't happen) to put people to work.

my comment: No stimulus is needed, just time, inexpensive online job training, and make small business regulations as minimal as possible.