Comments on: Why the True Unemployment Rate is More Than Twice as Bad as 10.2% http://www.redstate.com/malbis/2009/11/06/why-the-true-unemployment-rate-is-more-than-twice-as-bad-as-102/ Tue, 19 Jan 2010 19:04:16 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: reelman http://www.redstate.com/malbis/2009/11/06/why-the-true-unemployment-rate-is-more-than-twice-as-bad-as-102/#comment-95 reelman Tue, 17 Nov 2009 21:30:58 +0000 http://www.redstate.com/malbis/?p=17#comment-95 summarizes the state of the Obama Team...et al http://conservablogs.com/theconservativecrawfish summarizes the state of the Obama Team…et al
http://conservablogs.com/theconservativecrawfish

]]> By: olddog http://www.redstate.com/malbis/2009/11/06/why-the-true-unemployment-rate-is-more-than-twice-as-bad-as-102/#comment-94 olddog Tue, 17 Nov 2009 19:02:01 +0000 http://www.redstate.com/malbis/?p=17#comment-94 We get the BHO lie, Not good democrats, but the demon rats,that have taken over my granddad's party. I am a dyed in the wool conservative, taught by a blind grand-dad whose values were, unlike anything I see on that side today. If it says progressive, then its anti-constitutional, do it my way or the highway, modern day Fascism, who lie, who beat down, physically and verbally, any dissent, They sell our constitutional rights to their biggest contributors and the U.N. and raid the treasury .( see all the millionaires in Congress), who were not, when they first got there. And how many of their special interest contributors are feeding, at the taxpayers trough. But now they are eating the trough. And watch the selective prosecutions,and those whose cases were dropped, will give you the general idea, We the people, are not loved by our out of control politicians. Back our Troops! One Old Dog We get the BHO lie,
Not good democrats, but the demon rats,that have taken over my granddad’s party. I am a dyed in the wool conservative, taught by a blind grand-dad whose values were, unlike anything I see on that side today. If it says progressive, then its anti-constitutional, do it my way or the highway, modern day Fascism, who lie, who beat down, physically and verbally, any dissent, They sell our constitutional rights to their biggest contributors and the U.N. and raid the treasury .( see all the millionaires in Congress), who were not, when they first got there. And how many of their special interest contributors are feeding, at the taxpayers trough. But now they are eating the trough. And watch the selective prosecutions,and those whose cases were dropped, will give you the general idea, We the people, are not loved by our out of control politicians. Back our Troops!
One Old Dog

]]> By: malbis http://www.redstate.com/malbis/2009/11/06/why-the-true-unemployment-rate-is-more-than-twice-as-bad-as-102/#comment-81 malbis Sat, 07 Nov 2009 18:10:28 +0000 http://www.redstate.com/malbis/?p=17#comment-81 The <a href="http://www.bls.gov/news.release/empsit.t12.htm">Bureau of Labor site</a> officially lists 17.5% unemployment as the real figure--you just have to hunt for it. The higher 21.4% figure from Shadow Gov Stats is typical of estimates made by economists by including groups mentioned above who are not listed anymore in official statistics. John Williams is one of the only economists I've found who tracks it on a month to month basis--and unfortunately but understandably, he charges for full access to his site. The basic info, however, is posted free on his main page--his explanation and analysis isn't. However, he gets it by adding in estimates of the left-out groups I mention based on data from curent and previous years. The Bureau of Labor site officially lists 17.5% unemployment as the real figure–you just have to hunt for it.

The higher 21.4% figure from Shadow Gov Stats is typical of estimates made by economists by including groups mentioned above who are not listed anymore in official statistics. John Williams is one of the only economists I’ve found who tracks it on a month to month basis–and unfortunately but understandably, he charges for full access to his site.

The basic info, however, is posted free on his main page–his explanation and analysis isn’t. However, he gets it by adding in estimates of the left-out groups I mention based on data from curent and previous years.

]]> By: LJ "Beaglescout" Miller http://www.redstate.com/malbis/2009/11/06/why-the-true-unemployment-rate-is-more-than-twice-as-bad-as-102/#comment-80 LJ "Beaglescout" Miller Sat, 07 Nov 2009 05:07:11 +0000 http://www.redstate.com/malbis/?p=17#comment-80 Is there a free source of real stats out there or is a pay site the only choice? Is there a free source of real stats out there or is a pay site the only choice?

]]> By: malbis http://www.redstate.com/malbis/2009/11/06/why-the-true-unemployment-rate-is-more-than-twice-as-bad-as-102/#comment-79 malbis Fri, 06 Nov 2009 21:43:04 +0000 http://www.redstate.com/malbis/?p=17#comment-79 He has been charting the disparity between the official unemployment rate and the real unemployment rate all years. Check out the latest installment <a href="http://voices.washingtonpost.com/economy-watch/2009/11/truer_us_unemployment_rate_hit.html">HERE</a>. And yes, that is the Washington Post saying that unemployment is more than 7 points higher than the Obama administration admits--and Frank compares it to the Great Depression unemployment rate too. It really is as bad as we think it is. He has been charting the disparity between the official unemployment rate and the real unemployment rate all years. Check out the latest installment HERE.

And yes, that is the Washington Post saying that unemployment is more than 7 points higher than the Obama administration admits–and Frank compares it to the Great Depression unemployment rate too.

It really is as bad as we think it is.

]]> By: malbis http://www.redstate.com/malbis/2009/11/06/why-the-true-unemployment-rate-is-more-than-twice-as-bad-as-102/#comment-78 malbis Fri, 06 Nov 2009 21:02:25 +0000 http://www.redstate.com/malbis/?p=17#comment-78 You cannot effectively compare 1930s figures to those of today because our economy was so different back then. A substantial portion of the U.S. population in the 30's still lived on farms--and that insulated a lot of people from the worst effects of the Depression. It also elevated the significance of farm-related unemployment and bankruptcies involving seizure of family farms over what it is today. Add in all of those farm-related figures, ignore the fact that many "unemployed" farm-workers received room and board for unpaid labor to survive, and the unemployment rate for everyone in the depths of the Great Depression in the U.S. was about 7 points higher--a fraction over 31% nationally. However, when you realize that was 3 years and more after the Crash of '29 -- the figures don't warm the heart. <strong>We are still, right now, above the number of unemployed that the U.S. was at one year into the economic crisis that became the Great Depression</strong>. We are at least 6 percentage points higher, and at most about 9 percentage points higher, than at this point in the Great Depression. And we still haven't had the commercial real estate bubble burst, or the next cascade of retailers and small businesses closing after this Christmas season, or the crisis when Japan cannot continue buying our debt--and the even bigger problem when China stops supporting the dollar to keep us as customers for their products. We can't keep pumping money into the system on Stimulus after Stimulus, and the administration has admitted that the maximum benefit we can expect from the one they passed earlier this year has already been felt. Without more money to artificially prop things up, the outlook is bleak. And there simply isn't enough money for bailouts and Stimulus programs to get us out of this. You cannot effectively compare 1930s figures to those of today because our economy was so different back then. A substantial portion of the U.S. population in the 30′s still lived on farms–and that insulated a lot of people from the worst effects of the Depression. It also elevated the significance of farm-related unemployment and bankruptcies involving seizure of family farms over what it is today.

Add in all of those farm-related figures, ignore the fact that many “unemployed” farm-workers received room and board for unpaid labor to survive, and the unemployment rate for everyone in the depths of the Great Depression in the U.S. was about 7 points higher–a fraction over 31% nationally. However, when you realize that was 3 years and more after the Crash of ’29 — the figures don’t warm the heart.

We are still, right now, above the number of unemployed that the U.S. was at one year into the economic crisis that became the Great Depression. We are at least 6 percentage points higher, and at most about 9 percentage points higher, than at this point in the Great Depression.

And we still haven’t had the commercial real estate bubble burst, or the next cascade of retailers and small businesses closing after this Christmas season, or the crisis when Japan cannot continue buying our debt–and the even bigger problem when China stops supporting the dollar to keep us as customers for their products.

We can’t keep pumping money into the system on Stimulus after Stimulus, and the administration has admitted that the maximum benefit we can expect from the one they passed earlier this year has already been felt. Without more money to artificially prop things up, the outlook is bleak.

And there simply isn’t enough money for bailouts and Stimulus programs to get us out of this.

]]> By: larueladue http://www.redstate.com/malbis/2009/11/06/why-the-true-unemployment-rate-is-more-than-twice-as-bad-as-102/#comment-77 larueladue Fri, 06 Nov 2009 20:20:27 +0000 http://www.redstate.com/malbis/?p=17#comment-77 are these adjusted as you adjusted the current figures? I wasn't clear on that... Are you comparing apples to apples here? are these adjusted as you adjusted the current figures? I wasn’t clear on that… Are you comparing apples to apples here?

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