Unemployment rate drops to 8.8%, Obama guaranteed for 2nd term?

Quote from da-net:

Is it even possible to know what the real unemployment situation really is?

The reason I ask is there are so many people that are not counted; eg: 1099 unemployed, self employed that business failed now looking for work, people not drawing unemployment anymore, etc

Could the real unemployment figure be closer to say 20% or is that conservative?
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Its about 22 percent according to shadow stats:

sgs-emp.gif



Alternate Unemployment Charts

The seasonally-adjusted SGS Alternate Unemployment Rate (Blue line) reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.


http://www.shadowstats.com/alternate_data/unemployment-charts
 
Quote from bone:

Look at the BLS figures for "underemployment". The other piece are all of the folks taking that 3 years of benefits and who are not even looking for work.

The price of gasoline and the torrid pace of price inflation will dominate the economic conversation for the next 18 months.
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3 years? Unless you are talking Mercury years you might cause the 99ers to flood the labor office looking for another year on the gravy train.

Rennick Reich out:cool:
 
Headline from today's WSJ:

"We've Become a Nation of Takers, Not Makers "

"More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined."
 
Quote from da-net:

Is it even possible to know what the real unemployment situation really is?

The reason I ask is there are so many people that are not counted; eg: 1099 unemployed, self employed that business failed now looking for work, people not drawing unemployment anymore, etc

Could the real unemployment figure be closer to say 20% or is that conservative?
More...

I firmly believe that it's in the ballpark of 20%. But take it one step further...How many of the employed are "traditionally" employed vs 100% commission or a modest base but essentially living off of commissions. Basically, within the 80% employed, what percentage of those actually have jobs which can support a household?

It's really no wonder at all why the public sector has grown so rapidly in the past decade. We simply never recovered from the peak employment of 99-00.
 
Obama will easily win a second term, but that has nothing to do with the unemployment numbers, and everything to do with a complete joke of a line up for republican presidential candidates. Once again we will choose between dumb and dumber, and the republicans have taken dumb to a whole new level of stupidity and incompetence.
 
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