Unemployment will stay above 9% for the next two years. You can take that to the bank.
Just remember who calculates unemployment. They can say its 9.7% or tell the truth and say its 17%. The rate is in the hands of folks like Rahm Emmanuel. The truth is nearer 12% than 9.7%, its just not politically smart to tell the truth.
I agree. Unemployment figures don’t count small business that went belly up. Those folks are not collecting and are not counted. Lots of small business owners in my area have closed up shop and are now doing odd jobs to feed themselves. I believe your number of 17% is much more like it.
The REAL truth is that as people go beyond the 99, they drop off the unemployment reports. They are STILL unemployed. The record simply does not reflect it in unemployment figures. But, it does show up with the IRS, and when there are no Tax dollars coming in for each of those individuals, the problems will worsen. In the Post Depression days of American History, the goal was to put people back to work, and in doing so, have funds coming into the treasury for taxes, which stimulated growth. This presidents idea of employment is to hire 415,000 census takers, which is a TEMPORARY job, and claim a decrease in unemployment.