Tuesday, February 10, 2009
18%...oof
Paul Craig Roberts:
posted by Scats : 2/10/2009 07:48:00 PM
The unemployment rate reported in the US media is a fabrication. Williams reports that in changes since 1980, particularly in the Clinton era, "‘discouraged workers’ those who had given up looking for a job because there were no jobs to be had--were redefined so as to be counted only if they had been ‘discouraged’ for less than a year. This time qualification defined away the bulk of the discouraged workers. Adding them back into the total unemployed, actual unemployment, [according to the unemployment rate methodology used in 1980] rose to 18% in January, from 17.5% in December.”
posted by Scats : 2/10/2009 07:48:00 PM
