Friday, 28 January 2011

CHART SHOCK: The REAL Unemployment Rate Is More Than 22%

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

When the US economy tanks during 2011 we will see the unemployment situation worsen significantly.

It will be interesting to see if the money printing fraudsters at the Fed and those "steering" the ship in Washington are able to hold off on this disaster for more than 12 months.

[Posted at the SpookyWeather blog, January 28th, 2011.]

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