Breaking story! TRUE unemployment rate is 14.7%
Posted in the Providence Forum
#1 Oct 5, 2012
This morning it was widely reported that the national "unemployment rate" dropped to 7.8%- and that most of the drop was "the fact that many people simply stopped looking for a job." That comment is very disrespectful to unemployed people who are working harder than ever to find a job.
The rate that is reported as the unemployment rate by the Bureau of Labor Statistics is table U3. That table only measures the number of people who are Receiving Unemployment Benefits. The true unemployment rate is 14.7% and is reflected on BLS table U6 - and remains unchanged. By the way, Congress dictates which table is used to report unemployment. http://www.bls.gov/news.release/empsit.t15.ht ...
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