What Is the Real Unemployment Rate?

Discussion in 'Economy' started by hvactec, Nov 3, 2011.

  1. hvactec
    Offline

    hvactec VIP Member

    Joined:
    Jan 17, 2010
    Messages:
    1,315
    Thanks Received:
    106
    Trophy Points:
    83
    Location:
    New Jersey
    Ratings:
    +132
    A closer look at the Department of Labor’s employment report earlier this month reveals that the real unemployment number is different from the “headline” number. Restated, the Bureau of Labor Statistics (BLS) should have concluded that unemployment is at least 9.1 percent, and most certainly much higher.

    If the BLS adds the 9.3 million who are “involuntarily” employed part time because their hours were cut back or because they couldn’t find a full-time job, that brings the total to 23.3 million un- (or under) employed. Another 2.5 million persons were “marginally attached” to the labor force — those who were not working, but wanted to work and had tried to find work in the past year without success — which brings the total to 25.8 million. According to the BLS, the civilian work force is just over 154 million, so doing the math give a potentially more accurate number: 16.8 percent.

    If those who have given up looking for work altogether were counted, that would add more than another nine million, according to John Williams at ShadowStats.com. That brings the unemployment number to 23 percent. This is confirmed by a recent Gallup poll that nearly one in every five Americansdescribe themselves as underemployed but it doesn’t count those who hold more than one job just to make ends meet.

    READ MORE What Is the Real Unemployment Rate? – Patriot Update
     
  2. expat_panama
    Offline

    expat_panama Silver Member

    Joined:
    Apr 12, 2011
    Messages:
    2,461
    Thanks Received:
    252
    Trophy Points:
    98
    Ratings:
    +253
    [​IMG]
    Look, the BLS already does have unemployment numbers higher than 9.1, and others that are lower depending on what type of worker, employer, and area you have in mind. This broken record about the headline number is giving me a headache...
     
  3. Middleoftheroad
    Offline

    Middleoftheroad Active Member

    Joined:
    Jul 17, 2011
    Messages:
    589
    Thanks Received:
    53
    Trophy Points:
    28
    Location:
    Texas
    Ratings:
    +54
    instead of starting the same thread you started 5 days ago, why don't you respond to the people on the old thread, or is it because pinqy basically pwned you, and you didn't want anyone to see that, so you thought you would let the thread die, before saying the exact same thing all over again.
     

Share This Page