California U6 at 18.4%?

[obama-lama]

Is the California True Unemployment Rate at 18.47 Percent? The 10.1% Headline Number is the Highest Rate in Over a Quarter Century. 1.8 Million Workers Unemployed in one State. How Many are Partially Employed or Have Given up Looking for Work?

http://www.mybudget360.com/finances-of-california-employment-situation-unemployment-industries/

 

[bond_trad3r]

I don't like that blog. Give me link to bls with California numbers so I can do my own math.

 

[obama-lama]

Quote from bond_trad3r:

I don't like that blog. Give me link to bls with California numbers so I can do my own math.

Official State of CA release: 10.1%
http://www.edd.ca.gov/About_EDD/pdf/urate200902.pdf

Do whatever number crunching you want you in-denial moron.

 

[JJacksET4]

Try driving down Del Amo Ave anywhere from 2:30-6:00 and you will think the unemployment rate here is about .1%. I have been driving that road for quite a few years now and it has NEVER been worse.

JJacksET4

 

[bond_trad3r]

Quote from obama-lama:

Official State of CA release: 10.1%
http://www.edd.ca.gov/About_EDD/pdf/urate200902.pdf

Do whatever number crunching you want you in-denial moron.

Thank you for the link. I'm not in denial because I think the number is actually worse than 18.1, but I diddn't like how that blog came to its conclusions so I want to see for myself just how bad the numbers really are.

 

[CapitalismGoneW]

Nice graph of West Coast U6 vs East Coast U6 from the St. Louis Fed - http://www.capitalismgonewild.com/2009/03/california-unemployment-surging-ahead.html

 

[CapitalismGoneW]

Sorry! the graph above is U3, I attached the wrong graph, but you get the drift of the whole argument.

 

[ByLoSellHi]

I wouldn't be surprised if the true unemployment rate on a national basis or state by state basis is at least 50% and maybe 2x higher than the officially published %.

 

[Nodav]

The real story is that even in the best of times there is 1 person working for every 3 people. The other people who are not working are either too young, too old or unable/unwilling for some reason to work.

In the modern age, its difficult to tell by plain site who is unemployed and who is not. There are no soup or unemployment lines anymore.

People do everything over the web now so there is an army of people at computers right now browsing the internet. Thats where the unemployed reside.

Quote from ByLoSellHi:

I wouldn't be surprised if the true unemployment rate on a national basis or state by state basis is at least 50% and maybe 2x higher than the officially published %.

 

[Daal]

U6 is relevant if compared to previous peaks and throughs of U6. People use their higher number to imply a higher level of economic misery but the only reference readers have is the historical official U number. In a U6 world perhaps 10% unemployment is low, where are the long-term numbers to tell us what is average?