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US Unemployment Rate 11.9%

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#1 pacific


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Posted 26 April 2003 - 12:09 PM

US Unemployment Rate 11.9%, naw coudnt be.
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]2k3

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.

:eek: :o :(
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#2 Stephen Volk B.

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Posted 26 April 2003 - 11:37 PM

Once Bush's New World Order takes over - with its endless convergence path - you'll find they'll decimate Russia's employment as they are with the United States. Today, American patriots and Russian patriots feel the same threat from the NWO: encroaching economic domination and slavery.
The underground gas chambers at Mist Oregon built by the Rockford Corporation - near Mollalah and its Russian enclaves - will soon be used on neighboring Russians and Americans alike. Of course, this is not something the L.A. Times will readily tell you....
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#3 TDPushkin


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Posted 22 August 2004 - 01:04 PM

I think time has come to change this almost criminal statistical method and come up with a system that is economically more meaningful and helps to device social and economic public policy development.

Every western country should add 3-8 % in its unemployment numbers depending on the length of time its policy is on unemployment benefits.
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#4 pacific


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Posted 22 August 2004 - 01:28 PM


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