Article

2010-10-25 Economy

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Fred 2010-10-25 00:00|| || Front Page|| [5 views ] Top

#1 FREEREPUBLIC > "60 MINUTES" JUST BLEW THE LID OF THE UNEMPLOYMENT SITUATION IN THE USA | [Video]SHOCK REPORT: "60 MINUTES" - THE REAL US UNEMPLOYMENT RATE IS 17% [ e.g. California = 22%].

Posted by JosephMendiola 2010-10-25 01:19|| 2010-10-25 01:19|| Front Page Top

#2 Al Capp certainly had a way with - words?.

JM - As the Aussie would say you are spot on.
We will get most of the bad news after the elections when O is out of the country on vacation.
Some information will slip out. Main stream media, hollywood, and the government have done their best to manipulate information. Like the little fellow in Holland putting his fingers in the dike holes is running out of fingers. Meanwhile people like soros I understand are trying to shut down alternate media outlets in the background.

Posted by Dale 2010-10-25 08:54|| 2010-10-25 08:54|| Front Page Top

#3 That real unemployment rate is just one of the other measures, surely. It's a number I've seen around before... I'm sorry I can't remember what it's called.

Posted by trailing wife 2010-10-25 10:59|| 2010-10-25 10:59|| Front Page Top

#4 tw: there are all sorts of unemployment rates. The official government rate are just those that have been laid off in the last six months. Right now, that is hovering around 10%.

Then there is the rate (U-6) that includes unemployed as well over six months, but within the 99 week limit for the cut off of unemployment benefits. Now, around 17%, I believe.

Then there is the list that includes them, and those over 99 weeks, and those that are short-term "discouraged" and no longer seeking work. It is about 23%.

http://www.shadowstats.com/alternate_data/unemployment-charts

Finally, there is the all-inclusive long term unemployment rate, which is every adult who could be employed full time, but are not employed full time. While this one is a sky high 47%, this number is deceptive.

It includes people like housewives, those who are wealthy and investors who do not seek employment, those in the underground economy, who are employed, but not officially. It does not count adult students, however.

Posted by Anonymoose 2010-10-25 11:54|| 2010-10-25 11:54|| Front Page Top

#5 Moose, do you happen to know what those various rates are during "full employment" periods?

Posted by KBK 2010-10-25 12:30|| 2010-10-25 12:30|| Front Page Top

#6 Thank you, Anonymoose. I knew that, here at Rantburg, someone would know what I didn't. :-) The U-6 is the one I was reaching for.

I wonder if I'd be counted among the housewives who could have worked full time? The counters would have been wrong, though.

Posted by trailing wife 2010-10-25 12:42|| 2010-10-25 12:42|| Front Page Top

#7 Don't minimize it too much TW.
Its worse than it looks.

BTW.... Siemens-Nokia bought Motorola Networks. End of this month they are all technically terminated and then rehired or not at new levels and pay scales. The Israeli guys in Mot and Mot Israel are likely S**t out of luck!
The rest in a bad bad place.
Oh and pension dates are reset.

Posted by Water Modem 2010-10-25 13:43|| 2010-10-25 13:43|| Front Page Top

#8 I don't mean to discount it, Water Modem. It's just that it's not that the jobless rate has suddenly soared, but that it's remaining stubbornly high or creeping higher, regardless which measurement is used.

As for the clever men and women in Israel, I imagine they'll be snapped up pretty quickly -- high tech is booming there, last I heard. Siemens-Nokia has a regional headquarters in Dubai, I think... or Bahrain. A friend of mine was in management there. At any rate, I imagine you're right that they wouldn't be hiring a great many Israelis.

Posted by trailing wife 2010-10-25 14:56|| 2010-10-25 14:56|| Front Page Top

#9 KBK, Moose, TW,

Here is the chart of U-1, U-2... U-6 from 1995-2009. Its a little scary.

and here is a chart of the average duration of unemployment from 1949 to 2009. Its way scary.

Posted by lord garth 2010-10-25 16:40|| 2010-10-25 16:40|| Front Page Top

#10 Looks like a graph of taxation on incomes, employment and spending...

Posted by Bright Pebbles 2010-10-25 17:59|| 2010-10-25 17:59|| Front Page Top

#11 For some time I've suspected the unemployment numbers have been manipulated (artificially minimized). It feels a lot worse than they are admitting.

Posted by Scooter McGruder 2010-10-25 22:39|| 2010-10-25 22:39|| Front Page Top

#12 Yep, definitions of "unemployed" change. That's manipulation.

Posted by Rex Mundi 2010-10-25 23:46|| 2010-10-25 23:46|| Front Page Top

00:24 JosephMendiola
23:58 trailing wife
23:57 trailing wife
23:54 trailing wife
23:53 JosephMendiola
23:52 Pappy
23:46 Rex Mundi
23:44 JosephMendiola
23:37 JosephMendiola
23:20 USN,Ret
23:15 Thing From Snowy Mountain
22:55 Shieldwolf
22:39 Scooter McGruder
22:20 tu3031
22:13 tu3031
22:09 Frank G
22:07 Frank G
21:59 tu3031
21:55 tu3031
21:55 Shieldwolf
21:52 tu3031
21:51 tu3031
21:48 tu3031
21:47 whitecollar redneck