The February job numbers are grim, as expected. The official unemployment rate is now 8.1%, with 650,000 Americans losing their jobs just last month. The number that is usually underreported, however, is the U-6 unemployment figure. This is a more realistic way to look at unemployment, as it counts all the people that want a job but gave up, all the people with part-time jobs that want a full-time job, all the people who dropped off the unemployment rolls because their unemployment benefits ran out.
This month’s U-6 number: 14.8% – or about 1 in 7 Americans are unemployed.
Consider the Great Depression, which had an unemployment rate of around 25% at the height of the depression in 1933, and you might get a clearer picture of how severe this crisis is. Take a look at the previous link for a timeline of the Great Depression and you might see some similarities to today.
To get a more detailed view of this month’s unemployment numbers, visit Mike Shedlock’s Global Economic Trend Analysis Blog.
At this rate, we are on track to lose over 7 million jobs this year. Ouch!
It Took 22 Years to Get to This Point
The public's ignorance about food safety and vaccination is now a hindrance to the prevention of...
This article was originally published by Lance D. Johnson at Natural News. President Trump's...
This article was originally published by Ramon Tomey at Natural News. Foreclosure filings rose...
Commenting Policy:
Some comments on this web site are automatically moderated through our Spam protection systems. Please be patient if your comment isn’t immediately available. We’re not trying to censor you, the system just wants to make sure you’re not a robot posting random spam.
This website thrives because of its community. While we support lively debates and understand that people get excited, frustrated or angry at times, we ask that the conversation remain civil. Racism, to include any religious affiliation, will not be tolerated on this site, including the disparagement of people in the comments section.
Comments