Unemployment Numbers Continue to Hurt Housing

What is the actual unemployment number?

A lot is being made of the drop in the unemployment rate to 8.1%. One of the speakers at the DNC made a great point. He said it is all about the arithmetic. Brilliant!

We add 96,000 to the fortunately employed list and the unemployment rate drops to 8.1%, now that is good? Here is the problem with the arithmetic, over 300,000 left the work force or stopped looking for work. It continues to be widely agreed upon that the true unemployment rate is closer to 16%, or double of what is being reported.

23 million out of work and we added 96,000 jobs and we’re being told, by President Obama he needs more time. I wonder how many of the 23 million will actually say OK to 4 more years?

Check out this article:

Unemployment Drops to 8.1% as Economy Adds Just 96K Jobs BY: Mark Lieberman, Five Star Institute Economist

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jane September 18, 2012 at 09:31 AM
hahah - Hey Rick - good answer. I saw her question and answered it. Didn't read on first.
jane September 18, 2012 at 09:41 AM
Rick. Bush's home ownership initiative was 2002. The GOP had control of the House until 2006. Therefore they had control of the committees. Hence, they took a hands off and a who cares about bank regulations approach. They were losers.
Maria Giannuzzi September 18, 2012 at 11:51 AM
A comment that does nothing to enhance the discussion.
Maria Giannuzzi September 18, 2012 at 11:57 AM
Angel, you describe accurately the dilemma faced by many laid off employees, particularly older workers who are considered a liability by a winner-take-all economic model. They will never get back to where they were income-wise. We have businessmen who are socially and ecologically responsible, but there are also those who will harm other human beings and our environment in order to make a few extra bucks profit, literally.
Rick McDonald September 18, 2012 at 05:21 PM
@Jane, I believe that some of the committees were still chaired by Democrats, maybe not. The chair of the banking committee was a Democrat turned Republican during the Clinton Presidency in order to get reelected, basically a Democrat at heart


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