Unemployment at 16.3 Percent!

I posted this in a response to Sandra who comments here quite often.  I think it is important enough to give it its own space. The following was taken from an article written by John Lott, Fox News.com, link follows below.

Guess What?? Unemployment’s Really at 16.3%

The announcement today that the unemployment rate declined slightly to 9.4 percent in July while only 247,000 additional jobs were lost has been greeted as good news.  The change in the unemployment rate puts the rate at what it was in May. Yet, even a rough look at the numbers indicates that the true unemployment rate has been getting significantly worse over the last few months.

How is it possible for the unemployment rate to essentially remain unchanged when 247,000 jobs have been lost?  The reason is simple — the number of people who stopped looking for work rose dramatically.  Six hundred thirty-seven thousand additional people no longer consider themselves looking for work. This is by far the largest drop in the number of people who consider themselves in the labor force during the last year. — It is almost twice the 358,000 increase in the people who left the labor force during June and almost four times the average monthly increase of 167,333 over the last year.  Jobs are sufficiently scarce and the prospects of people finding them at wages that they are willing to work for so low that many individuals don’t think that it is worth their time to even look for a job.

These discouraged workers will again look for work once the economy starts to improve, but this 6.9 percentage point gap between publicly discussed unemployment rate and these discouraged workers is unusually large. (emphasis mine)

Read Article from Fox News Here

Just a side note by me, but what do you think will happen to the unemployment rating when health care is completely taken over and run by the government?  What about all those private insurance carrier jobs?  I’m not talking about the rich people at the top, I am taking about regular working 9-5 types like you and me.  Think about it.

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8 thoughts on “Unemployment at 16.3 Percent!

  1. Hi M’kayla
    Im surprised that unemployment is only at that rate and not higher.It must be that the government is shielding its citizens from the stark reality of the GFC that it resorts to this kind of skullduggery.You could safely assume that unemployment figures aren’t the only numbers being fudged , add to that inflation, budget deficet,and the true amount spent bailing out banks and other institutions too big to fail , and you get a picture of governments doing their best to protect and preserve the lives of their precious constituents.
    kind regards

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  2. mkayla, what? Like two weeks ago it was at 11 percent?! WHAT in the blank is it gonna take for the people in this nation to wake up?! I realize half the nation is awake but the other half????? OBAMA ZOMBIES BABY, obama zombies!

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  3. Kayla – I just read that (Canada) lost 45,000 job in the month of July these jobs were good paying jobs. And these jobs are not going to come back. So that means Government will have to burden the middle class plus country goes into more debt. What ever they decide. And what jobs do come up they are not the best paying jobs. That is why I watch a lot of US stuff cause Canada always falls the way of US, meaning if you go down so do we.

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  4. Oh yes. The super highway, Paul McQuire, I don’t know if you have heard of him very good speaker from California. This deal was done between Bush, Harper and the mexican guy what ever his name is. They are going open up the borders isn’t that just duckie. Lots of changes , more than one way I’m afraid. Anyways,Paul McQuire wrote a book on The Day the $ died. I was gonna get it but, haven’t gotten around to it yet. I just might order it yet.

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    • Sandra, no, I haven’t heard of him. Yeah, lets open up the borders of Mexico, so all of those who have no jobs can come to the land of not so plenty anymore and not get a job like all the rest. Let’s invite the criminal element, the drug lords, etc., etc. Because obviously this is what we are pushing for when we want to give illegals drivers licenses, jobs or welfare and heath care. I think we are looking at a future society that will do anything, say anything, believe anything because they have become eternally grateful to the one that let them in this country and gave them freely what others worked for and many died for!

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  5. Yes, can you believe that ? well, Since you haven’t heard of him this is about the super highway they actually call this the NAFTO anyways you can get him on u-tube just type in Paul McQuire. Its well worth reading and knowing. He also wrote the book Are You Ready – this is what he is talking about NATO this highway is I believe to be 12 lanes. I think you find this very interesting I know I did. I could’t begin to tell you all thats involved. But, they are hoping to have it completed 2010.

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