Quote:
Originally Posted by Saltheart
The jobless rate is not 9.4. Anybody who lost their job when things went critical in late 08 to early 09 have all dropped off the jobless statistics. The 99'ers (those who exhausted their unemployment benefits) do not exist according to how the jobless rate is determined. The jobless rate in above 20 percent IMO and many say as high as 25% .
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The official unemployment number is a measurement taken using one method of accounting. It doesn't reflect just people losing their jobs or the total number not working.
To jump between 9% and 20% isn't good for much beyond rhetoric, unless the argument is that the 9% method isn't accurately modeling the right trends.
There was a CATO article from last year that put the unemployment rate at less than 7% when focusing on people who had actually just become unemployed.
Perhaps more important is to use a consistent methodology. I'm more concerned with the trend...
-spence