There are 6 different scales of unemployment that are numbered U-1 through U-6--with U-6 being the most 'liberal' AND the most accurate reading of the unemployment rate, reached by adding:
The # of those receiving unemployment benefits +
The # of those who are underemployed.
As of last month (August, 2012) government officially stated that 8.3% of the labor force is "visibly" unemployed. The total US population is approximately 330 million; 24% of those are young people not eligible to work, and 13% are retired. So the total population of available workers in the United States is 100% - (24% + 13%) = 63% of 330 million people, or 208 million workers. Out of the pool of available workers, therefore, 8.3% accounts for about 17.3 million people. Together with the 86 million "invisible" that means 103.3 million Americans are available to work but do not have a full time job. And with 103.3 million workers not working or underemployed, you get THE TRUE jobless rate in the U.S. (as of last month): CLOSER TO 49%.
Additionally, a recent survey conducted by the U.S. Census Bureau of income and program participation showed that well over 100 million Americans are enrolled in at least one welfare program run by the federal government---and that figure does NOT even include social security and medicare.
From an estimated annual rate of 3.3 percent during 1923-29, the unemployment rate rose to a peak of about 25 percent in 1933. The economy reached its trough in 1933; but although unemployment had reached its peak, economic recovery was slow, hesitant, and far from complete.
In 1930 the unemployment rate was 8.9 percent, or equal to today. By 1931 it was nearly 16 percent. Then, after peaking at nearly 25 percent in 1933, the unemployment rate slowly abated…yet it was still nearly 15 percent in 1940.
I wonder when and if the present or next administration will be honest with the people. Or will they continue the financial destruction and we are left wondering just what happened?
Comments
KIM Americans are not doing a good job of reacting to anything anymore. I really think they have drank too much Fluoride and taken too many vaccines with Mercury. There is a group of scientists that want to sue Al Gore and his ilk for changing the scientific data they had given to studies on climate change. By changing the figures they created Global Warming.
I wonder how americans would react if they were told what the figures really were.
"Many around me are saying this is the worst 2 candidates ever" I agree. I have no intentions of voting for either one. I would rather do a write in.
Here is the list of things that will really set tings in motion!
The five major global flash points to be careful of are:
1. North/South Korea (over the Maritime border)
2. China/Japan (over the Diayou/Senkaku islands)
3. Iran/Israel (over Iran's nuclear program)
4. Pakistan/India (over Kashmir)
5. Russia/NATO (over SDI and the Iskanders)
The players are in position and the ball has been thrown.....no matter which candidate we choose (which one the electorial college chooses that is, we are screwed! Many around me are saying this is the worst 2 candidates ever!!!!
Good post, Tammy... goes to show you can manipulate numbers in a multitude of ways...
Keith, While I do not completely understand what you are saying, I would hope that some people still have the resolve to think for themselves.... thus, a new administration.
Keith the direction has been chosen and the players are in place we are the only ones that do not have the game card or the rules and yet we think we have a chance at changing the outcome, of the few people on this site I know you understand what I just said.
Chrys and Tammy you have been my friends for over a year and I love you both dearly for your intelligent coments about everything. Everywhere I go people are suffering and it is not hidden or hard to find. I am on a fixed income and no one knows what it is like to live on the same never changing wages more someone that has to face inflation. Two cups of coffee is now one , butter on your bread is now plastic butter. God bless you Tammy and Chrys you are the ones that know and you will survive.
I am one of those now Chrys! I had to take a job where I make almost 600 less a month! That hurts!!
Also, one needs to add in the millions of people who have been forced to take jobs that pay very little. They don't count as unemployed, but I bet many are struggling mightily to make ends meet.
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