Saturday, June 20, 2009

How Can a Poor Man Stand Such Times?

The number of unemployed persons increased by 787,000 to 14.5 million in May, and the unemployment rate rose to 9.4 percent. Since the start of the recession in December 2007, the number of unemployed persons has risen by 7.0 million, and the unemployment rate has grown by 4.5 percentage points.

   Bureau of Labor Statistics

Some counties in Indiana are pushing up to 20% unemployment in actual reported numbers.

But you know how the government counts unemployment. They leave off the people who have quit looking for work and the chronically unemployable. I don’t know how many that might be, but it’s bound to be a lot. So imagine what the true unemployment rate is in this country. Not pretty.

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