mikelally.net

Another post from Tom Peters. I got behind this past week. This time from the WSJ – Unemployment: Worse Than it Looks.

Some very disturbing numbers that tell the real story. Not the 6% unemployed propaganda. Just going to cut and paste the stats….with some commentary and not going to follow the rules….props to the author Moira Herbst.

- 6.7% rate is a full 2% higher than the same time last year, the rate remains well below the 10.8% postwar peak, reached in November 1982.

- Rajeev Dhawan, director of Georgia State University’s Robinson College of Business, says the official unemployment rate is “not a good measure of what is happening in the economy. Absolute job losses and retail sales give a better idea of what’s really happening in the economy.

- the U.S. Bureau of Labor Statistics’ (BLS) can offer a more complete picture of joblessness. The BLS tracks U-6, which captures the total unemployed, plus what the agency calls “marginally attached” workers and those employed part-time “for economic reasons.” For November 2008, that rate was 12.5% – that’s DOUBLE the propaganda.

The rest of the article was too depressing. Were going to see seasonality affects. And others. Sheesh. Baby, it’s COLD outside.