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Real U.s. Unemployment (Shadowstats) Rising Near 23%

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Interesting that the Shadowstats figure (blue) is now rising, and diverging from the official U6 and U3 figures.

I think I heard on CNBC that this is now the longest period of official unemployment over 9% in history (can that be true?!) and also that 15m Americans are now unemployed, with 6m of those unemployed for over 6 months.

Ben's gonna have to do something....

http://www.shadowstats.com/alternate_data/unemployment-charts

sgs-emp.gif?hl=ad&t=1291387614

Edited by chris c-t

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Interesting that the Shadowstats figure (blue) is now rising, and diverging from the official U6 and U3 figures.

I think I heard on CNBC that this is now the longest period of official unemployment over 9% in history (can that be true?!) and also that 15m Americans are now unemployed, with 6m of those unemployed for over 6 months.

Ben's gonna have to do something....

http://www.shadowstats.com/alternate_data/unemployment-charts

If there are 15m unemployed then that 9% of the working population puts the total working population at 167m? (15m / 9 * 100)According to Wiki the total population is 309m in 2010. So 152m (0.91 x 167m) workers are supporting 157m non workers. They obviously need to join the EU so they can allow mass immigration.

In 1930 the population in the US was 123m

http://en.wikipedia.org/wiki/Demographic_history_of_the_United_States

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http://www.bloomberg.com/news/2010-10-05/food-stamp-recipients-at-record-41-8-million-americans-in-july-u-s-says.html

The number of Americans receiving food stamps rose to a record 41.8 million in July as the jobless rate hovered near a 27-year high, the government said.

Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 18 percent from a year earlier and increased 1.4 percent from June, the U.S. Department of Agriculture said today in a statement on its website. Participation has set records for 20 straight months.

Unemployment in September may have reached 9.7 percent, according to a Bloomberg News survey of analysts in advance of the release of last month’s rate on Oct. 8. Unemployment was 9.6 percent in July, near levels last seen in 1983.

An average of 43.3 million people, more than an eighth of the population, will get food stamps each month in the year that began Oct. 1, according to White House estimates.

:o

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I guess if you went around a supermarket in 70s or 80s then most of the stuff would have said 'made in USA' and now I would guess that 95% plus says 'made in china'. no wonder 25% are unemployed; just didn't see it coming ...

+1.

They are not going to recover unless they start making things again, which will require saving money, cutting government spending, taxes and regulations.

We are in the same position. Try to find things made in the U.K., for example a light bulb, if you're lucky you might find one made in Poland, but everything else will have Made in China/P.R.C. stamped on it.

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+1.

They are not going to recover unless they start making things again, which will require saving money, cutting government spending, taxes and regulations.

We are in the same position. Try to find things made in the U.K., for example a light bulb, if you're lucky you might find one made in Poland, but everything else will have Made in China/P.R.C. stamped on it.

peoples republic of chiswick?

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It seems they have basically given up trying to deal with it. They tried one half-hearted stimulus package, then sort of lost the political will to do anything. Now the plan is carry on as usual as the number of unemployed ticks up month by month.

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sgs-emp.gif?hl=ad&t=1291387614

Why is there such a huge difference between the Shadowstats figure and the official figure. How can the government expect it's people to believe a single word it says when it publishes such blatantly false statistics.

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Why is there such a huge difference between the Shadowstats figure and the official figure. How can the government expect it's people to believe a single word it says when it publishes such blatantly false statistics.

Because the official US unemployment figure is those who are claiming unemployment benefit, I think I've seen in some areas you can claim it for 99 weeks (although that figure could be wrong). Once that expires your off the figures job or not. It's a bit like in the UK where the govt during the 80's encouraged people to get off the figures by going on incapacity benefit, and that policy continued well into the 21st century. The UK's unemployment figure is far higher than the official figure.

Govts have been lying for years about how many people are out of work. Not surprising really when you consider under the name of globalisation they have been shipping jobs out of the west.

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Because the official US unemployment figure is those who are claiming unemployment benefit, I think I've seen in some areas you can claim it for 99 weeks (although that figure could be wrong). Once that expires your off the figures job or not. It's a bit like in the UK where the govt during the 80's encouraged people to get off the figures by going on incapacity benefit, and that policy continued well into the 21st century. The UK's unemployment figure is far higher than the official figure.

Govts have been lying for years about how many people are out of work. Not surprising really when you consider under the name of globalisation they have been shipping jobs out of the west.

One thing I woud do if newly elected was order the real numbers released and heavily publicize them. So it is blamed on the opposition and then the government and society can have a real understanding of where they are.

But I have a feeling if the populace knew how bad the numbers were they might demand radical change. Radical change that the people in power do not want to make.

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One thing I woud do if newly elected was order the real numbers released and heavily publicize them. So it is blamed on the opposition and then the government and society can have a real understanding of where they are.

But I have a feeling if the populace knew how bad the numbers were they might demand radical change. Radical change that the people in power do not want to make.

No one will ever do that. If you went down that road you've had to jail the previous politicians the public would demand it due to the economic fall out, trouble is politicians don't want or do moral hazard.

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No one will ever do that. If you went down that road you've had to jail the previous politicians the public would demand it due to the economic fall out, trouble is politicians don't want or do moral hazard.

The public would do exactly as they did during the banking 'crisis' and the expenses scandal, absolutely nothing.

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Guest The Relaxation Suite

If there are 15m unemployed then that 9% of the working population puts the total working population at 167m? (15m / 9 * 100)According to Wiki the total population is 309m in 2010. So 152m (0.91 x 167m) workers are supporting 157m non workers. They obviously need to join the EU so they can allow mass immigration.

In 1930 the population in the US was 123m

http://en.wikipedia.org/wiki/Demographic_history_of_the_United_States

Immigration won't help them. The enormous, overwhelming, bloated, expanding and belligerent elephant in the room will have to be confronted at some point.

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I guess if you went around a supermarket in 70s or 80s then most of the stuff would have said 'made in USA' and now I would guess that 95% plus says 'made in china'. no wonder 25% are unemployed; just didn't see it coming ...

Maybe the in the 1940's and 1950's during rationing the US may have made something. But I don't remeber ever seeing anything with Made in the USA in the 1970's. It was Japan, then Korea and now China. All the really important stuff (machine tools, indutrial equipement) is made in germany as it has since the 1960's. US's exports these days are food, computer software plus aerospace/defense equipment

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Immigration won't help them. The enormous, overwhelming, bloated, expanding and belligerent elephant in the room will have to be confronted at some point.

Indeed... the US has to create a few million jobs a year just to stand still with its current demographic profile ......

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Having watched a few episodes of "Undercover Boss" where British managers go undercover in their own companies to see how front line actually works in their own company I decided to watch the US version that is now showing on Channel 4,

Apart from some VERY american changes (some kind of pep rally with whooping at the end, and always, always relentlessly positive) it is pretty much the same show.

What struck me is just how badly treated your average US employee is compared to the equivilant Brit. On the British show the CEO is generally shown how to do the job, there is a bit of moaning about the job from the people he is working alongside and at the end the CEO promotes someone they've met and tries to copy some of the succesful systems they've seen in other branches.

In the US one the CEO usually ends up in tears as they hear how the employees they've met are about to lose their homes, are broke due to medical bills and are still doing 60 hour weeks for a tiny wage. At the end of the show they meet up and offer to put the star worker, doing 60 hour weeks, onto a salary rather than hourly contract. At some point the CEO always gets fired by ther front line supervisor due to not meeting the near impossible targets they have set their staff and docked large amounts of pay for minor problems (e.g. 2 minutes docked for every 1 minute they spend on the toilet during work time)

Yes I know it is TV, heavily edited and spun but the Friedmanite - anything but maximising profit is stealing from shareholders - mindset so dominates there that the little people are of no consequence.

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Because the official US unemployment figure is those who are claiming unemployment benefit, I think I've seen in some areas you can claim it for 99 weeks (although that figure could be wrong). Once that expires your off the figures job or not. It's a bit like in the UK where the govt during the 80's encouraged people to get off the figures by going on incapacity benefit, and that policy continued well into the 21st century. The UK's unemployment figure is far higher than the official figure.

Govts have been lying for years about how many people are out of work. Not surprising really when you consider under the name of globalisation they have been shipping jobs out of the west.

There are two trends going on at the same time..

On one hand, ongoing development and automation in the west will tend to reduce the number of people required to do the same thing. Generally a good thing, but it is an open question as to if the people thus freed up will find other work.

And on the other hand, we have opened out markets to China, India et. al. without asking for basic concessions on exchange rates, fair pay and political freedom. Competing with people who are paid a fraction of what you are is bad enough, competing with people who can be locked up for complaining about pay and conditions is impossible, especially with fixed exchange rates.

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