Real Unemployment Rate 28.6 Percent
Posted on July 17, 2010
Filed Under Critical Issues, Must Read | Leave a Comment
I really don’t know which I consider worse. That our government would lie about the unemployment rate to win an election. Or that our government would lie about the unemployment rate so we will buy more 52 inch flat screens from China.
America is not in an economic recovery! The jobless rate is going to continue to climb as corporate profits are maintained with government support through borrowed money…money borrowed from China.
Raghavan Mayur, president at TechnoMetrica Market Intelligence, follows unemployment data closely. So, when his survey for May revealed that 28% of the 1,000-odd households surveyed reported that at least one member was looking for a full-time job, he was flummoxed.
“Our numbers are always very accurate, so I was surprised at the discrepancy with the government’s numbers,” says Mayur, whose firm owns the TIPP polling unit, a polling partner for Investors Business Daily and Christian Science Monitor. After all, the headline number shows the U.S. unemployment rate today is 9.5%, with a total of 14.6 million jobless people.
However, Mayur’s polls continued to find much worse figures. The June poll turned up 27.8% of households with at least one member who’s unemployed and looking for a job, while the latest poll conducted in the second week of July showed 28.6% in that situation. That translates to an unemployment rate of over 22%, says Mayur, who has started questioning the accuracy of the Labor Department’s jobless numbers.
Read Full Article Here: The Real Unemployment Rate: Is It 9.5%, 16.5%, 22%, or Higher? – DailyFinance.
Unfortunately jobless Americans are now the ones responsible for paying off the trillions in debt the government has incurred to prop up Wall Street.
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