Apples to oranges (4.00 / 1)

Ronald Reagan changed the definition of unemployed in 1986 to exclude "discouraged workers."  The U-6 unemployment rate which includes everybody (and is probably too high) is up a full point in the last month to 16.8%.

The comparisons to the old-style rates shown in 1981-82 (indeed, in all years prior to 1986) is bogus.  This is the worst unemployment since 1939.  Only the rates of 1932-35 were significantly worse (boy were they worse, peaking at 24.9%).

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by: David Kowalski @ Thu Jul 02, 2009 at 10:33:03 AM CDT

Why is the U-6 too high? .. (0.00 / 0)

U-6 includes all those people whose UE benefits have run out .. plus other things ... U-3 only counts those who still are getting UE benefits(which only about 1/2 of those laid off qualify for)

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by: Calvin Jones and the 13th Apostle @ Thu Jul 02, 2009 at 10:47:19 AM CDT

[ Parent ]

Well, if the banks weren't making money again.... (0.00 / 0)

...the situation would be much worse, unfortunately...

The numbers will get better at the end of summer when GM and Chrysler plants are back at work...  Chrysler assembly plants reopened yesterday...  that's going to help a lot!

REID: Voting against us was never part of our arrangement!
SPECTER: I am altering the deal! Pray I don't alter it any further!
REID: This deal keeps getting worse all the time!

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by: lord_mike @ Thu Jul 02, 2009 at 11:15:08 AM CDT

How many factory workers do GM and Chrysler .. (0.00 / 0)

employ now? .. after all the cuts

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by: Calvin Jones and the 13th Apostle @ Thu Jul 02, 2009 at 12:02:08 PM CDT

[ Parent ]

mmm (0.00 / 0)

i dont want to get trickled on by big banks

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by: Edgar Box @ Thu Jul 02, 2009 at 11:40:41 AM CDT

trickled on? (4.00 / 1)

more like we're getting pissed on

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by: jeffbinnc @ Thu Jul 02, 2009 at 13:44:04 PM CDT

[ Parent ]

This is only (0.00 / 0)

the tip of the iceberg I'm afraid.  It's going to get much, much worse and I don't think anyone who has been paying attention doubts that.  Personally, I think in October 2009 the whole thing comes CRASHING down when the bear market begins a nose dive....and "nose drive" is an understatement I'm sure...total collapse of the system is more accurate.

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by: Gloughlin42 @ Thu Jul 02, 2009 at 14:04:07 PM CDT

And if MSNBC airs that FREECREDITREPORT.COM ad one more time.... (0.00 / 0)

Everyone-please change to CNN everytime that !@#$%^# commercial runs on MSNBC.

Advertising for dollars is ok  -until turns into brain damage.

Sorry Keith - I've shut you and Rachel OFF everytime that ^%$#@! ad runs!


Nationalism is not the same thing as terrorism, and an adversary is not the same thing as an enemy.

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by: worldlymother @ Thu Jul 02, 2009 at 15:06:00 PM CDT