What’s the real unemployment rate?
2 Responses to “What’s the real unemployment rate?”
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December 14th, 2011 at 12:47 pm
Part of the reason for the decline is the fact that the Front Edge of the Baby Boomer Wave is also leaving the workforce, and some of the Illegal Aliens have headed back home. Also, I read some where that 70% of the U.S. Workforce is now in Service and Consumer Industries, while a couple of generations ago, it was in Manufacturing. So, if Joe’s Teddy Bear Shop goes Belly Up because no one can afford Stuffed Animals, should we expect that part of the Economy to rebound any time soon?
But this trend does look like what happened to Europe a Generation ago, and look at the mess it’s in.
December 14th, 2011 at 5:33 pm
The biggest problem publicwise is they insist on reporting U3 rather than U6. People leave U3 without getting jobs; their time there just expires. They move to U6, where the only ways off are employment or death. Lies, damned lies, and statistics.