SHOCK REPORT: "60 Minutes": The Real Unemployment Rate Is 17% (video)

[General of Darkness]

This probably isn't a surprise to anyone here.

http://www.realclearpolitics.com/video/2010/10/24/60_minutes_the_real_unemployment_rate_is_17.html

[Cebu_4_2]

I think it is higher.

[Still Barbaro]

Thanks for the video.

Sheesh. 60 Minutes finally told the truth, and rebuked that fake U3 rate.

Wait a minute...what about those green shoots?

[PatColo]

sounds like 60 Minutes cited the official U-6 unemployment number, which looks to be around 17%.

Shadowstats alternate number is 22-23%, nationwide. I wonder what the CA number is, given that 60 Mins cited 22%, presumably U-6 again.

http://www.shadowstats.com/alternate_data/unemployment-charts

http://www.shadowstats.com/imgs/sgs-emp.gif?hl=ad&t=1286543504

[Dogman]

I think it is higher.


Tend to agree , the numbers are much higher, than that.

[Low Pan]

the "true" Unemployment figure is actually the "Under-Employment Rate". This rate takes into consideration the Self Employed peops who are no longer employed and are not receiving Unemp benefits in addition to those who were receiving Unemp Benefits but no longer do but are still Unemployed. I think the last Gov jobs report stated this went up from 16.5% to 17.1% on the last moth. Unemp continues to dip down while Underemployment has gone no where but up.

[ximmy]

if the shills at 60 minutes are reporting this, you know the number is higher

[Twisted Titan]

I would put the number at 32%


T

[Cebu_4_2]

28-30% what is there 30% on food stamps now? You can't get them very easily IMO.

[mick silver]

we all saw this coming over two years back ... there nothing new to see here . but i will say this is only going to get worst