Real unemployment rate 22.9%
- Thread starter AMonger
- Start date
so where is the news here?.....most know about the U6 rate being closer to the truth at 14.4%..and then this guy has his own magic formula to add another 8.5% unto the numbers...talk about spin doctor....gee whiz...
Tennesseahawk
Veteran Expediter
What truth? Truth is that those out of the workforce for over a year are not counted as unemployed. What? Did they drop off the face of the Earth? The "truth" is what government wants you to believe... that, possibly, a 22.9% is really 7.7 in their eyes.
I don't know if the number is really as high as 22.9, but I wouldn't doubt it, and wouldn't be surprised. But I'm thinking that number is closer to the truth than any number the government would admit.
AMonger
Veteran Expediter
The formula he's using is the real formula, the one that had been used before the Clinton administration jiggered the formula to cook the books. That's his point. The people who stop looking for jobs after a year because there are no jobs for them to be had don't cease to exist. They still either contribute to or detract from the health of the economy, and are still indicators of it.
Since he was with the Reagan Admin...he must be doing some Reagonomic math....how he jumped from 14.5% the U6 number...to magically 22.9% with no explanation other then HIS own figuring
AMonger
Veteran Expediter
That's already been explained, but I'll go over it for you again. U6 only calculates those discouraged workers who have been unable to find work for a year or less, after Clinton made the change to make the numbers look better. The others drop off the radar screen, so-to-speak. When you include them, the true percentage of people who want a job but can't find one is 22.9%.
Just to clarify this a bit:
"U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force"
The U-6 rate for Nov 2012 (seasonally adjusted) is 14.4%
Table A-15. Alternative measures of labor underutilization
But also consider the Labor Force Participation Rate, which measures the percentage of the population that is qualified to work and is working.
Bureau of Labor Statistics Data
There are fewer people employed now than at the beginning of the year, and the trend continues downward as has been the case since Obama took office. This doesn't look like a recovering economy. Let's watch this graph over the next six months and see how the Obama economic policies continue to work for us.
Barack Obama's presidency isn't about jobs at all. His energy is spent pursuing fairness and social justice as encompassed in Black Liberation Theology. Right now, Obama is half-way finished with his promise to fundamentally transform this nation. Even if he doesn't succeed in destroying all the social values and institutions which held this country together, Obama's lust for revenge drive his thinking and motivation. The next four years will be interesting. It's easier to force change on a weak and disheartened population. Many thanks to the voters of Ohio, Michigan, Florida and Virginia who foisted this disaster on our nation.
Don't forget all the Johnson and other third party voters as well as all the write in voters as well as those who abstained from voting. All those people cast their vote for Obama just as surely as if they'd pushed the button for Obama.
Michigan is at least headed in the right direction.
Romney had NO chance. He was a bad candidate and made ZERO attempt to contest the State. He made LITTLE attempt to contest the election. He did not WANT to win, nor did he try.
Michigan is being changed from the inside out, which is the ONLY way change, real change, can take place.
With a LOT of hard work, many emails, letters and phone calls, from those of us who care, Michigan has now become the 24th RIGHT TO WORK STATE!
It is a BIG step for our State. We are a little more free today than before. MAYBE in 2016, IF the Rumbumlicans run a REAL candidate and that candidate TRIES to win, he/she/it will have a real shot at Michigan. The tides are changing. It always starts from the bottom up.
Romney had NO chance. He was a bad candidate and made ZERO attempt to contest the State. He made LITTLE attempt to contest the election. He did not WANT to win, nor did he try.
Michigan is being changed from the inside out, which is the ONLY way change, real change, can take place.
With a LOT of hard work, many emails, letters and phone calls, from those of us who care, Michigan has now become the 24th RIGHT TO WORK STATE!
It is a BIG step for our State. We are a little more free today than before. MAYBE in 2016, IF the Rumbumlicans run a REAL candidate and that candidate TRIES to win, he/she/it will have a real shot at Michigan. The tides are changing. It always starts from the bottom up.
It is encouraging to watch the Michigan state legislature vote to pass the right-to-work bill. What matters next is can Michigan keep this status as right-to-work? The next gubernatorial(or is it goobernatorial in Michigan?) election in Michigan will surely feature a Democratic candidate promising to overturn right-to-work. If Michigan can retain a GOP state legislature and IF activist judges leave it alone, you might just see real progress.
AMonger
Veteran Expediter
When I said U6 counts those unemployed for a year or less, what I meant was that it doesn't count those discouraged workers out of the labor market for over a year. I just said it backwards. Wasn't saying that's what the chart is for.
Last edited:
One step at a time. Keep in mind, on this years ballot there were TWO pro-union amendments proposed to the Michigan Constitution, BOTH were soundly DEFEATED! More is going on than meets the eye.
We are dealing with a century of garbage, it is going to take time to clean it up.