Monday, April 27, 2009

The real unemployment number-15.6%

The Bureau of Labor Statistics uses an alternative number to report unemployment which is almost never reported.It includes the total civilians unemployed plus discouraged workers plus marginally attached workers plus the total employed part-time for economic reasons.It's not an official number because the subjective results are somewhat based on surveys of these workers and is not simply a hard fact.

As of March,2009,it stands at 15.6%.Discount it if you wish,but I think it's safe to say the official number of 8.5% is too low.Obviously,the number of illegal workers,self-employed and those working for cash would also raise this number to some point that can't be calculated fairly.Again,the true number is always higher than what is officially reported.No administration will use any high end estimate,however,as it's a reflection on the effectiveness of their policies.Obama has actually come the closest as the threat of high unemployment was used as a tool to ram thru the stimulus package as an emergency.More to come...

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