Unemployment Rate >17.5% if calculated like it was during Great Depression

Discussion in 'Economics' started by bidask, Apr 17, 2009.

  1. bidask


    Unemployment Rate: A Visual Guide to the Financial Crisis

    The overall unemployment rate currently stands at 7.2 percent, a 15-year high according to Bureau of Labor Statistics. Each day since the current recession began, in December 2007, the news has been full of reports of job layoffs. Just today the government released a report indicating that the number of Americans filing for unemployment benefits is at its highest level in a quarter of a century, as more workers seek government assistance. Could the news get any worse? It’s all in how you calculate the numbers.

    Here is a visual guide to the truth behind the numbers