I would like to know the real number,because I don't believe the government numbers.they only count people in the unemployment system not the millions of struggling self-employed like myself.During the Great Depression unemployment was 25% and we already have cities with those numbers without counting the self-employed and those not in the system.A few months agoI read that the real number then was closer to 14%, what would that make it now? I just wish someone in the media would talk about this.
Government's definition of "unemployment" changed in the mid-1990s when the Clinton Administration decided to exclude recent "discouraged" out-of-work people from the official unemployment stats. To see REAL unemployment numbers consistent with rates before that change, check www.shadowstats.com, which shows current real "SGS Alternate" unemployment now near 20%(!). This definition is consistent with the unemployment that rose to 25% in the 1930s.
With the way people are taking paycuts to keep jobs, underemployment is hitting the economy pretty hard.
My wife lost her job but was given the option to work "part time" with almost all the same amounts of responsibilites for 1/2 pay.
She has been looking for months for other jobs but still goes to work, has her office, and does the same job with one less responsibility so they can call her a contract employee without benifits.
So she is under employed seriously.
But they don't show the fact she can't spend in this economy like she used to. I picked up the whole family insurance so I make less as well as the family plan is much higher then single or plus one for the daughter on her plan.
So I spend less.....
And how many unpaid weeks off we hear about? Those people spend less.....
Just click on google news "paycuts" below.....
But none of this matters.
Just "newly" unemployed.... I get it. Things are fine....
What you posted is exactly what is transferring. More labor for less money. Once we have lost it all we will work for far less and be thankful. Everyone thinks we are going to a socialist state. Not all true. I have an autistic son. He used to get 300 dollars a month to combat his perscription costs. He no longer gets that. I pay 17 dollars per hour for my retirement and medical benefits. I have blue cross blue shield PPO. Unbelievable insurance but no insurance company covers an autistic child. My sons rispedal is 800 dollars a month for pills that cost 18 cents each to produce. If I needed risperdal my insurance covers 100% generic or 5 dollars it cost me for name brand. Well I have to pay 800 more a month now for my sons medicine. The government helped bring it to 500 but no longer can help out. Now I don't expect to get something for free but I do have some of the best insurance money can buy. Also I am being reamed on the cost of perscription. This medicine in another country would go for less than 100 dollars. There is a major shift going on and it is going to make us work harder and receive less. All the people on welfare will soon be losing that too. People collecting unemployment and social security is at risk as well. No body is going to get something for nothing. These politicians are blowing air in the wind. The truth is we will all be working harder and making less in a very short time.
You make an excellent point concerning people having to take paycuts to keep their jobs. I personally have heard from many people I know that have had to do that.
Fun there's no government statistic (to my knowledge) that takes this into account.
10% unemployed, 15 MORE percent underemployed. Foreclosures approaching five to ten percent of all real estate sales. Big ticket items like cars and household appliances tumbling like chiclets from a box.
Depression of 2007-2015
Yes the numbers are more like 15%. They are usually lagging three months behind. Plus they don't count partime employees or self employed workers that are in great numbers during these techonological years. Now we also have 6+ million students graduating in june. The numbers will be staggering. Its not looking good or appearing to get any better.
If you are using the govt numbers to watch trends it is really irrelavent to worry if it is a real number or just their spin on it. You will be comparing apples to apples.
If you are using the govt numbers just to know......
1 you can't trust ANY of their numbers
2 probably safe to double it right about now
3 you can't trust ANy of the media
Its a goverment run scam to make them look good.most of those cable stations beleive all the bs.say the figures show a 600k unemployment figure then the next month it shows 600.01 they would have celebration how the economy is gettin great.its all a sham and a cover up people. Most people who follow the market can see the daily evidence of this.the rest of the folks beleive all the news on cable that covers up the truth.sad.