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Why More Than 8% Unemployment Could Lie Ahead

 
El Quisqueyano
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02/19/2013 08:00 AM
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Why More Than 8% Unemployment Could Lie Ahead
Excerpt;



Severe fiscal tightening in the U.S. will lead to no growth or a contraction in the first two quarters of 2013 and will push unemployment over the 8 percent level, according to Lombard Street Research.

The unemployed look for job opportunities at the South Florida Workforce center in Miami, Florida.

The knock-on effect will mean pain for the business sector, with corporate profits falling after a hit to consumer spending power, the firm said.

Link;
[link to www.cnbc.com]
Anonymous Coward
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02/19/2013 09:18 AM
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Re: Why More Than 8% Unemployment Could Lie Ahead
considering we are near double that right now in real numbers, not the crap the admin is putting out,
up your number to 25.
Anonymous Coward
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02/19/2013 09:21 AM
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Re: Why More Than 8% Unemployment Could Lie Ahead
Duh
Anonymous Coward
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02/19/2013 09:21 AM
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Re: Why More Than 8% Unemployment Could Lie Ahead
considering we are near double that right now in real numbers, not the crap the admin is putting out,
up your number to 25.
 Quoting: Anonymous Coward 2226485


under-employment is another 25%
Anonymous Coward
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02/19/2013 09:25 AM
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Re: Why More Than 8% Unemployment Could Lie Ahead
Excerpt;



Severe fiscal tightening in the U.S. will lead to no growth or a contraction in the first two quarters of 2013 and will push unemployment over the 8 percent level, according to Lombard Street Research.

The unemployed look for job opportunities at the South Florida Workforce center in Miami, Florida.

The knock-on effect will mean pain for the business sector, with corporate profits falling after a hit to consumer spending power, the firm said.

Link;
[link to www.cnbc.com]
 Quoting: El Quisqueyano


while I agree with you; I don't believe it will ever be reported that way. The Gov't has been cooking the books for years and this admin is not about to let the real numbers ever come close to being reported as they realistically stand.

"Official Numbers" = prepackaged reality.

"Real Numbers" = True economic picture.

redface
Anonymous Coward
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02/19/2013 09:28 AM
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Re: Why More Than 8% Unemployment Could Lie Ahead
its at least 12% now....LOL
Anonymous Coward
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02/19/2013 09:31 AM
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Re: Why More Than 8% Unemployment Could Lie Ahead
Financial guest on C2C last week said that if unemployment was calculated the way it was in the 80's, the true figure would be 23%.
BxMac

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02/19/2013 09:33 AM

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Re: Why More Than 8% Unemployment Could Lie Ahead
If the 8% were true, I'd say things are looking up!

But as others have said before me here, real unemployment figures are much higher and will only continue to grow.

Now that the election is over, our political "leaders" don't even feign an interest in the economy and unemployment,

Not going to get better soon.
Anonymous Coward
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02/19/2013 09:37 AM
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Re: Why More Than 8% Unemployment Could Lie Ahead
Unemployment is already well over 8%. Stop listening to the lies on TV.
Anonymous Coward
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02/19/2013 09:42 AM
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Re: Why More Than 8% Unemployment Could Lie Ahead
Here's the real data. I put this up in another thread a few weeks back.

January 2013
( [link to www.bls.gov]

US population: 313 million
Civilian noninstitutional population: 244 million
Labor force: 155 million
Employed: 143 million
Unemployed: 12.3 million
Not in labor force: 89 million


So taking unemployed and labor force, we get an official unemployment rate of 7.9%

Problem is, millions of people have left the labor force since 2007. In fact, 10 million more. The data is at my fuller post here: Thread: Why are all these stores closing nation wide, if the stock market is up and things are peachy? (Page 3)

So 10 million have left work or didn't even get it when they left school, putting a rough and more accurate unemployment number at 14.3%.

But given that the "not in labor force" category makes no distinction between those who want to work and those who don't (either because they're moochers or housewives or whatever), it's hard to get a real unemployment figure. You could just say 89 million and make it relative to the total noninstitutional population rather than the labor force, which gives us a rate of 36.4%.
El Quisqueyano (OP)

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02/26/2013 05:02 PM
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Re: Why More Than 8% Unemployment Could Lie Ahead
If the 8% were true, I'd say things are looking up!

But as others have said before me here, real unemployment figures are much higher and will only continue to grow.

Now that the election is over, our political "leaders" don't even feign an interest in the economy and unemployment,

Not going to get better soon.
 Quoting: BxMac


bump
mrmuffins69

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02/26/2013 05:03 PM
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Re: Why More Than 8% Unemployment Could Lie Ahead
bs article, its already over 8%

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