U.S. Unemployment Rate Hits 10.2%, Highest in 26 Years

[Octavian]

Originally Posted by Darwinist

The real unemployment rate is way higher. The "discouraged workers" accounting trick has begun to kick people who lost their jobs at the beginning of the recession off the roll. How many of those people do you think are still out there looking?

Any comparisons to other nations or to earlier eras of American history need to take into account that today the way the unemployment rate is calculated is designed to minimize the number.

Additionally, the likes of real estate agents or mortgage brokers aren't counted unless they haven't received a commission payment in 6 months. So yes, discouraged workers and people on loose commission pay are neglected by these numbers.

The real figures have to be take in consideration of what is viewed as the potential work force of the US... view it like this (best article I could find from July):

But here's another group of numbers, also from the BLS, that give perhaps a better picture:

*
Total Employable: 235.655 million
*
Total Working: 140.196 million
*
Total Idle: 95.459 million
*

Percentage Idle to Total Employable: 40.5% (actually not working — not 9.6% unemployment rate!)
*
Total Working Full Time: 112.489 million
*
Total Working Part Time: 27.707 million.
*
Total Not Working Full Time: 123.166 million
*
Total Searching for Work (the "Unemployed"): 14.729 million
*
Percentage "Unemployed" to Total Idle: 15.4%

The Distributist Review: The Real Unemployment Numbers

I don't know how accurate these numbers actually are considering this is from a blog but it's more about the reasoning and what the writer is looking at.

[SleepyBoy]

Originally Posted by TheComebackKid

Wait, wait, wait...I think you guys must be mistaken or something. I mean, didn't we pass the stimulus package? Unemployment can't be above 8%. You guys should recheck your information.

yeah that's what I was told.

so i guess the banks should give the money back, with interest.

[Position]

Originally Posted by TheComebackKid

Wait, wait, wait...I think you guys must be mistaken or something. I mean, didn't we pass the stimulus package? Unemployment can't be above 8%. You guys should recheck your information.

Don't worry, they are going to pass Stimulus II (along with cap and trade and government healthcare) and this time they'll promise that unemployment would not go above 15%.

[chardog]

if it wasnt for the stimulus, it'd be way over 20%

[shera]

And today in the news they're talking about how the current administration is looking to raise the minimum wage. Sure, give employers more disincentive to hire, make domestic goods more expensive, a night out to dinner more costly. Like a poster above me said, we shouldn't have economic illiterates running the country.

[brackis1]

Originally Posted by shera

And today in the news they're talking about how the current administration is looking to raise the minimum wage. Sure, give employers more disincentive to hire, make domestic goods more expensive, a night out to dinner more costly. Like a poster above me said, we shouldn't have economic illiterates running the country.

I'm not sold on blind min. wage increases, but do you agree it should mimic inflation?

Colorado Plans To Lower Minimum Wage In 2010 : NPR

[James Keith]

Originally Posted by chardog

if it wasnt for the stimulus, it'd be way over 20%

It would be way over 100%!

Originally Posted by Darwinist

Any comparisons to other nations or to earlier eras of American history need to take into account that today the way the unemployment rate is calculated is designed to minimize the number.

Other countries do the same thing. Generally European countries are higher however you want to measure it.

[jerrylundergard]

Originally Posted by James Keith

It would be way over 100%!


Other countries do the same thing. Generally European countries are higher however you want to measure it.

The Euros have a few points higher unemployment but ask yourself something, would you rather be unemployed here or there? HEre you are straight up buttfooked if you have a run of bad luck and go unemployed to long. In europe, atleast youll have ok shelter and food as you try to pick your self up.

Getting laid off in the US is also pretty funny, the ole out the door see ya later bub. In Europe at least they have to work out something with your seperation pay. Not saying we should go as far as them but we need to move a bit in that direction.

[Leviathan]

God damnit, how the fuck am I supposed to get a job now? Are any sectors or industries doing better in terms of employment than others?

[Conan Memories]