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A Related Message from Bob Chapman - a regular featured Guest on TPH:

The Real Unemployment Picture

New unemployment figures were just released and they show that U3 has risen from 9.8% to 10.25, but more importantly if you use U6 unemployment is 17.5%. This U6 includes: U1 those unemployed 15 weeks or longer; U2 those who completed temporary jobs; U3 total unemployed as a percentage of the civilian workforce; U4 discouraged workers as a percent of the labor force:
U5 discouraged workers and U6 total unemployed. Embedded in U6 is the birth/death ratio and if you extract that and use the compilation criteria of 1980, officially U6 is 17.5%, but using the original formula real unemployment is 22.2%. These statistics point out how serious the situation is in view of the fact we are told unemployment was 25% during the Great Depression. They also point out the dismal results that have been obtained by the stimulus package, which is about 70% spent. All
government and Wall Street have done is deceive the public and business by using U3, which is not at all representative of what is really going on.

(The International Forecaster, 11-11-09)
 

 

 

 

 

 
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