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US Unemployment Rate 20%, could it be?


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#1 SmallMind

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Posted 12 April 2003 - 10:55 AM

This is not even counting those who are unemployed for so long that they dont even count in the labour force.

[source: April 7 {WSJ} article, "Labor Market May be Softer than Reported;" Dept of Labor Bureau of Labor Statistics]

THE WALL STREET JOURNAL HAS DISCOVERED THAT OFFICIAL U.S. UNEMPLOYMENT DATA HIDE REAL UNEMPLOYMENT. Hundreds of thousands of Americans have lost their payroll jobs during the last few months, but the official U.S. unemployment barely rose from 5.7% to 5.8% between January and March. Even the Wall Street Journal recognizes that this is impossible, and is becoming a scandal.

Today's issue states that, "with all that is going wrong in the U.S. economy, economists are starting to suspect that the current unemployment rate of 5.8% ... could be underestimating the true level of distress in the labor market."

The Journal reports some ways by which the Labor Department Bureau of Labor Statistics "misses" the real number of unemployed. "Many laid-off workers ... are simply setting themselves up as independent consultants operating from their home offices." They are self-employed.

Many of these "self-employed" consultants may work only one-third as many hours as they did when they had a job--or have no clients and thus have no work at all--but they are still counted by the BLS as employed.

The Journal states that others, after months of futilely searching for jobs may have become "too discouraged to look for work"--indeed, this category has risen by 360,000 workers during the past year.

But the BLS has made "too discouraged to look for work" as a category within "Not In the Labor Force"; however, in order to be counted as unemployed, a worker must be classified as "In the Labor Force."

Thus, the "too discouraged" are not considered as unemployed.

Further, the Journal states, "some are simply opting to take what they can get, working part-time at low-wage jobs that provide some health benefits."

These workers are "Part-Time for Economic Reasons."

The number of such workers has increased by 500,000 during the past year.

{EIR} has determined a real unemployment level:

- Table 1 -

EIR's Level of Real Unemployment, March 2003

Official Unemployment 8.45 million

"Want a Job Now" 4.76 million

"Part-Time for Economic Reasons 4.70 million

Total Unemployment 17.91 million

Unemployment Rate 11.9%

Of the 8.45 million whom the BLS reports as being officially unemployed, 1.90 million, or 22%, have been unemployed for more than six months.

The strains on their family income are greatly increasing.
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#2 Norm

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Posted 12 April 2003 - 10:21 PM

There are a lot of jobs available for people with little or no experiance and/or a good driving record. Fast food type jobs and driving jobs, clerks and such. At least there are in my area. I don't even know anyone who is not employed anymore. Except this one gal who makes a living from paternity suits and alimony. But shes evil.
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#3 xexon

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Posted 12 April 2003 - 10:50 PM

11.9% sounds abit high to me. I think locally its something like 7.6% and slightly above the national average.


If the economy continues its slide downhill, I could see 11.9 % in the coming months.


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#4 bellisaurius

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Posted 12 April 2003 - 11:17 PM

11.9% sounds european-ish, maybe they use a different definition for their statistics?

Also, underemployed is the more appropriate term for those who are part time when fulltime is available.
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#5 fu2

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Posted 12 April 2003 - 11:19 PM

The 7.6% do not take in account the temporary employed by the Pentagon US reserve ****bags currently occupiyng Iraq.
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#6 Saddam

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Posted 12 April 2003 - 11:30 PM

11.9 % and it's growing. Hard times ahead. Almost time to stand in line waiting for a free soup.


But Bush like his father doesn't give a damn busily counting oil money.
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#7 xexon

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Posted 12 April 2003 - 11:40 PM

Saddam, I'm glad you mentioned soup. I am going to make potato soup tonight, soon as I extract myself from all these postings !


Thanks for reminding me. :)




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#8 Guest__*

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Posted 12 April 2003 - 11:49 PM

>>"Many of these "self-employed" consultants may work only one-third as many hours as they did when they had a job--or have no clients and thus have no work at all--but they are still counted by the BLS as employed."

I can relate to this unfortunately, and know many others in the same boat. You can't collect unemployment if you have been self-employed for any amount of time. I can see how this group would be over-looked in calculation the figures.
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#9 Saddam

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Posted 12 April 2003 - 11:55 PM

Yup. Plsek , self-employed people < who have almost no income > don't count. They are not found in official unemployment statistics.
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#10 uglybastard

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Posted 12 April 2003 - 11:59 PM

Seesh, you America-haters really want to believe this, don't you?

Can't you get a hobby or something? Maybe watercolors?
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#11 Saddam

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Posted 13 April 2003 - 12:04 AM

Shoo off ugly !!!. I 've heard that you bought some shack in Lalaland so go there and stay there.
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#12 xexon

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Posted 13 April 2003 - 12:29 AM

Uglybastard,

Listen to the words of someone several times your age (me).

I am not an American hater. I am however a George Bush hater.

This person had done an a huge amount of damage to the good American name. I shall not rest until he is tarred and feather'd by the American people. Him, and his daddy too.

I don't think the people of this country are evil. Just uninformed and too lazy to want to know the facts. Until we take a more active stance in our leader's steering of this nation, we will suffer the conseqences of our apathy.

I'm not one of the above.


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#13 Saddam

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Posted 13 April 2003 - 12:32 AM

xexon , how was your potato soup ?
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#14 stolb

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Posted 13 April 2003 - 12:48 AM

All you guys are losers. Republicans know best how to manage economy. My parents are well off and will vote for Bush in '04. And i didnot get searched yesterday when driving from canada to america even though i dint have a passport on me and i had a thick accent. He only asked me where i was born and that i was a naturalized citizen. I have nothing to complain about freedom or economy. Oh and i was driving in the rain on a thruway at 75mph and i was losing control so was in between lanes, and a cop behind me put up a siren but when i moved to the right lane, he didnt pull me over, but just passed me from the left.
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#15 stolb

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Posted 13 April 2003 - 12:49 AM

Hey how come 90% of harlem's negroes vote for Clinton and 90% of Upstate people vote for Bush?
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#16 xexon

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Posted 13 April 2003 - 01:27 AM

Saddam, my soup was very good. In perfect harmony with my local weather. Its a chilly, blustery day.


Now...for desert.

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#17 Saddam

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Posted 13 April 2003 - 01:36 AM

It's raining now where I live. That's good.
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#18 smartcode

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Posted 13 April 2003 - 05:55 PM

Smallmind
Yeh,No more unemployment in America. Bush gang will take care of stealing The world oil. :mad:
sc
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#19 mataj

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Posted 13 April 2003 - 05:56 PM

With USA's enormous incarceration rate (http://christianpart...carceration.htm), about 2 additional pecents must be added to unemployment figure. People doing time are effectively unemployed.

That adds up to little less than 14% then.
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#20 SmallMind

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Posted 13 April 2003 - 06:28 PM

amerikan unemployment figures are much simpler than that, If you were part of the work force 6 months ago and are actively looking for work currently you are considered unemployeed.

So that leaves out people not in the work force which is anyone who used to work an year ago, cant look for work if you are in jail and others.
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