Real Unemployment Rate Closer to 12 Percent?

~ The Rebel ~ 2012/04/13 21:20:05
The official unemployment rate remains at an ugly perch of 8.2 percent, despite
declines in recent months. But even that lofty level understates the magnitude
of the jobs problem, according to a Wall Street Journal blog by Paul Vigna.

He looks at the
issue in terms of the labor force participation rate. That measures the
percentage of working-age Americans, excluding those who are in jail or the
military, who are “participating” in the work force.

The rate has been dropping
since January 2007, when it stood at 66.4 percent. The reading fell to 65.5
percent in July 2009, even as the Great Recession was officially ending, and
currently registers an almost 30-year low of 63.8 percent.

Taking that
drop into account produces a higher jobless rate. If you apply the July 2009
participation rate to today’s jobless numbers, that generates an unemployment
rate of more than 10 percent. And if you utilize the 2007 participation rate,
you’re left with a jobless rate of 11.8 percent.

Read More: http://www.newsmax.com/Newsfront/jobless-rate-figu...

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  • Walt 2012/04/14 23:13:15
    I believe the real unemployment rate is between 20 to 22%.
  • Andy 2012/04/14 12:10:22
    Whatever the numbers are...it is really ugly for lots of people!!
  • Ken 2012/04/14 03:16:17
    Closer to the truth.
  • Kat ♪ ~ ♪ 2012/04/14 02:02:26
    Kat ♪ ~ ♪
    Higher than that. People are out of benefits and just not reporting. http://www.usdebtclock.org/
  • Jackie G - Poker Playing Pa... 2012/04/14 00:00:01
    Jackie G - Poker Playing Patriot
    Yes it is - I think I read that U6 (which includes those that have dropped out) was at 14.6%
  • Mel 2012/04/13 22:25:44
    Sure it's because when the unemployed benefits run out they are no longer counted in the system but they are still unemployed.
  • Angus 2012/04/13 21:46:49
    No matter how much the Obama Administration cooks the books, the fact is that even after all the spending orgy, they have been nothing more than a failure. We have to keep exposing Obama's incompetence so America can be saved coming November.
  • Will on the road again 2012/04/13 21:39:13
    Will on the road again
    Another check on the jobless rate is what the IRS collected during each year. The numbers below are in thousands and you can see that 2009-2011 are much lower than the previous 3 years. If you compare 2011 to 2008, it is a 12% drop. Can't really hide these numbers.

    2005 2,268,895,122
    2006 2,518,680,230
    2007 2,691,537,557
    2008 2,745,035,410
    2009 2,345,337,177
    2010 2,345,055,978
    2011 2,414,952,112
  • ~ The Rebel ~ 2012/04/13 21:21:11
    ~ The Rebel ~
    IMO even that percentage is lower than what the real unemployment is!
  • Walt ~ The R... 2012/04/14 23:13:50

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