muses of the moment

February 6, 2009

Real Unemployment Rate 18%

Filed under: The Financial Crisis — totallygroovygirlfriday @ 5:45 pm

The unemployment rate isn’t pretty this morning at 7.6%, but the real rate is worse.

According to John Williams at shadowstats.com, the real drop in employment in January 2009 is 716,000.

This brings the current (non-gimmicky) unemployment rate to 18%. 

This means we are definitely in a 1970’s recession and have been for quite a while longer than the government’s stats have been letting on. But, if you live on Main Street, you already know that.

If you don’t have the correct information, you can not plan today for tomorrow. The government has changed the formula over the years to make their policies look good. Find good information and disregard bad information. Most importantly…know the difference.

Resources: www.shadowstats.com

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