I don’t. I believe the number is at 10% at least. And where are all the stories about the “underemployed” numbers we kept hearing about in the early 2000’s?
If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 16.5 percent in June
Note that for the past several months, they are saying there is 300,000 plus jobs lost, but the TOTAL jobs are at nearly 700,000. The 300,000 jobs are NON-FARM jobs meaning that for the past several months, nearly 400,000 jobs lost are FARM JOBS??
Something is fishy here. It’s summer and they are losing 400,000 “farm jobs” a month?
ah, there we have it. Also I don't think the official rate counts the self-employed, like small business owners and independent contractors (Realtors, mortgage brokers) who have been driven out of business or who are living on credit cards hoping to ride this economy out.
Here's the number I believe:
If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been IS 16.5 percent in June, the highest on records dating to 1994.
“... showed that even as the recession flashes signs of easing ...”
And what “signs” are those?
Nothing like good old bias in the media... Constantly trying to give a positive spin to the news when it is their guy in charge. For Bush it was nonstop talking down of the economy.
Well this is certainly change
“June’s payroll reductions were deeper than the 363,000 that economists expected.”
D-OH!!! Fooled again!
Total net job losses under zer0:
2,665,000!
Hope. Change.
This phony number does not include the unemployed whose benefits have run out....literally millions more.
When will the news media level with the American people? When the media companies have to cut their Washington press corp reporters, I suppose.
Anyone who believes this number please raise your hand.
Please add:
Anyone else seem to notice that the MSM appears to be giddy with delight every time unemployment numbers go up???
So what? Temple Inland shares (TIN) holding up nicely in spite of the “doom and gloom” and probably will go much higher. The news means nothing in regard to stocks.
Just an observation...Dems took control of Congress in Jan of 2007. They then started injecting government into the free market with the Minimum Wage Hike in May of 2007. According to estimates, that was supposed to only cause 140,000 lost restaurant jobs. Then a recession starts in Dec 2007. Only took them 11 months. Not sure if they are related at all....
June's payroll reductions were deeper than the 363,000 that economists expected. [467,000 = 29% higher]...
However, the rise in the unemployment rate from 9.4 percent in May wasn't as sharp as the expected 9.6 percent...
So, even though we lost 100,000 more jobs than "economists expected", the unemployment rate was less than the "expected" rate.
I was just a simple math minor in college, so I guess I shouldn't really hope to understand how you can lose 100,000 more jobs than you expected, and have the unemployment rate go in the opposite of the expected direction...
How do they report on the small businesses who are working their hind ends off and not getting paid?
We have never had the trouble getting paid that we are now experiencing.... and we have run our own business for 29 years! All the large corporations have stretched things out to an automatic 45 days before they even process it, and the small people are just dawdling on the bills, or making partial payments.
There will be more cut In July.