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Real Unemployment Rate at 15%
Posted: Feb 22, 2014
The "real" unemployment rate is high at 15%, but it's down from the worst of the recession. The "real" rate includes all those who would like a job, plus those who can only find part-time work because of the weak economy.;
Thank you for posting - THE TRUTH!
[ In Reply To ..]I don't know if the left will ever get to the real facts if they don't expand their horizons. It's sad.
amen - snickerdoodles
[ In Reply To ..]I believe its at least 15%. Many a txer I know have been laid off lately, outsourced, or forced to work literally slave labor wages and fudging on timecards to make it appear they are making more or IC work doing same--24/7 chained to computer. All other fields, most places only hire part-time if retail. 80% PT to 20% FT. Also, people who have given up on finding a job, people illegally fired, people no longer on unemployment, people underemployed do not factor into this fake rate of 6.8%. It probably is 25%. Hugs and prayers to everyone!
Do - you
[ In Reply To ..]realize they have used the same information on how they figure unemployment for years? That means the real UE rate is always higher than any administration says it is, not just this one.
It is comparing apples to oranges - still better than with Bush
[ In Reply To ..]The 15% quote is an entirely different calculation--like hemoglobin and hematocrit are not the same thing. At any rate, this number is still better than where George Bush left us and is quite remarkable when you consider the Republican House that President Obama has to work with.
Oh, okay, whatever you say. - nm
[ In Reply To ..]nm
I wonder if that was due to - Dodd and Frank
[ In Reply To ..]and the number of newly unemployed when their real estate bubble burst? Just sayin'...
Yes, I believe it was. W tried to stop them. - nm
[ In Reply To ..]Shafted by the Democrats again.
Please refresh my memory - NK
[ In Reply To ..]What did W do to try to stop them? Maybe we aren't thinking of the same W, and the question should be which W tried to stop them.
I'm not posting links, but they're out there. - Google this...
[ In Reply To ..]"bush tried to stop bad loans"
Do you mean when Barney was in the minority party - through the Imperialist Bush years?
[ In Reply To ..]because if you are talking about Dodd-Frank Consumer Protection Act, I believe that was in 2010 and does not have anything to do with the Bush Depression.
Still blaming Bush? Sounds like Obama. He left a long time ago, so get over it. - n/m
[ In Reply To ..]n/m
It's just their canned response when they have - nothing else to blame except Obama!
[ In Reply To ..]It does get old, though, doesn't it? They need to find a new fall guy. This is getting pretty borrrrrrrrrrrrrrring.
Not better than Bush. - Truthhurts
[ In Reply To ..]The maximum unemployment rate for 2008 was 7.3%, which was lower than 2009, 2010, 2011, 2012 and up to July 2013, where it equaled the December 7.3% rate.
Time to start realizing that Obama owns all the problems from 2009 through today and will own the problems/successes until 2015 since your friendly Democrats (including Obama) refused to pass any legislation to curb the housing problems that were bubbling up even in 2005, since the Democrats had the majority in both the House and the Senate in Congress.
We can all blame Obama and the Democrats for that but do we? I do, but you won't find any Democrat owning up to it, nor any liberal/progressive. Even Republicans don't blame the Democrats but I think it's about time that they start pointing it out instead of being the "whipping boy" for this administration.
Excellent points Truthhurts - The Sarge
[ In Reply To ..]I think your last line says it all."...I think it's about time that they start pointing it out instead of being the "whipping boy" for this administration. "
Who was president in 2008? Sm for - stats
[ In Reply To ..]"In December, the number of unemployed persons increased by 632,000 to 11.1 million and the unemployment rate rose to 7.2 percent. Since the start of the recession in December 2007, the number of unemployed persons has grown by 3.6 million, and the unemployment rate has risen by 2.3 percentage points."
Two point three percentage points in ONE year. I guess GW just gave up to let Obama mop up his mess, probably figuring things would get worse before they got better anyhow and maybe people wouldn't blame him (except those who actually research) instead of putting it all on Obama.
I call a 2.3 rise in unemployment in one short year a major, major fail. You can call him a whipping boy, which essentially characterizes him as a victim, but statistics reveal he was just a failure.
First point, try Googling "lagging economic indicator" - second (sm)
[ In Reply To ..]It is now February 2014 and your list of statistics stops in July of 2013? Why is that?
As far as Obama owning problems from Bush. The unemployment statistic is what is known as a lagging economic indicator and typically lags a couple/three quarters after a change in economy. Bush held office until Feb 2009 and the economy was still in shock from the Bush economic binge for quite some time after that. Obama accomplished a miracle turning that debacle around.
They are not problems from Bush - another poster
[ In Reply To ..]They are problems from Obama. That's where a lot of people seem to get confused. These are problems created while being in office and have nothing to do with Bush. Oh sure, you can google anything you want to try and find some way to blame whatever is going on now and whatever will happen in the future on Bush, just like I could do the same and say they aren't Bush's problems, they are Clintons. But the facts remain. These are problems we are having in the current time. It's nobody's fault except the administration that is in power now. That goes for all 3 branches (not just republicans - ALL of them)
What problems did Bush inherit from Clinton? A ginormous surplus? Poor - thing!
[ In Reply To ..]During 2008, last Bush year (thank God) he racked up 2.3 points of unemployment. So, Obama is elected and that magically makes dysfunction disappear?
No, not the faux surplus thingy - another poster - sm
[ In Reply To ..]That surplus thingy people actually believe was real is laughable. You don't rob from Peter to stick it in Pauls account and then claim you have a surplus (while Peter has just been robbed). Shame on people for actually believing that, but that's okay, really it is, I'm sure people were just too preoccupied with who was the next contestant being kicked off of survivor (or some other reality show) to pay attention to what was really going on.
Besides, I never said anything about Bush inheriting anything from Clinton.
Dysfunction(al) is what we have right now. In case people have noticed, the unemployment has skyrocketted and has doubled since he took office.
I'm sure anyone could come up with any number they pleased if they came up - with the
[ In Reply To ..]right formula to suit their purpose.
The unemployment rate reported by the BLS is a constant. The same formula used each year for many years over many administrations.
This unemployment rate is 6.6, down from the same formula used in 2008.
I have just three words for you. - Please wake up.
[ In Reply To ..]nm
However, it is incorrect - As you stated
[ In Reply To ..]"I'm sure anyone could come up with any number they pleased...."
This goes for your source too. And actually that is exactly what it is. A made up number that they think people will believe. When the truth is its worse than what they are reporting.
The BLS is using the same formula they've used all along. Hence, a **constant**-the formula - remains the same
[ In Reply To ..]The formula is the same as 2 years ago, 6 years ago, 10 years ago. It is not a number made up. The BLS compiles the figure according to a formula.
Another formula may be used by another entity to come up with a number that does not match the BLS figure. It may be a valid input of data, and that formula can be compared to itself, but it is not in the formula the BLS has used for very, very long. So it would be unfair and inaccurate to compare 2 different results derived from different data.
Again, the formula is a constant. It never changes. That's what makes accurate comparisons and trend-following possible.
It doesn't matter, the information is **incorrect** - Consistency is not a problem
[ In Reply To ..]Inaccurate information is the problem.
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