Thursday, July 2, 2009

Jobless rate reaches 9.5 percent

And, frankly, this is only the folks who are collecting: ["467K Jobs Cut In June; Jobless Rate At 9.5 Percent"].
At this point, all the people who have fallen off the rolls, because they have been out of work for more than a year, are no longer counted. I would bet that the un- and under-employment numbers are probably around 20 percent, maybe more.
I recall an article in the Boston Herald back in 1992 that had the real unemployment rate - which included people collecting, people out of work, people in part-time jobs who couldn't find full-time jobs - was around 30 percent. It was based on some study that was performed by some think tank. I don't remember exactly since it was so long ago. However, times were not as bad then as they are now. So, who knows what the number potentially is.

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