The latest unemployment rate could be only half the real rate, with CNBC’s Steve Liesman, and Michelle Meyer, Barclays Capital.
Airtime: Mon. Jun. 8 2009 | 9:51 AM ET
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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June 8th, 2009 at 4:47 pm
Plays in IE but not in my FF
June 8th, 2009 at 5:58 pm
I can’t seem to play this video either, but isn’t the discussion whether U3 or U6 is being used? If we go the U6 route, I can easily see that unemployment is really 15% of higher. But 18%? That means an awful lot of discouraged workers.
June 8th, 2009 at 7:23 pm
Or DOUBLE the amount..
http://zerohedge.blogspot.com/2009/06/payroll-data-in-perspective.html
June 16th, 2009 at 11:03 am
[...] which officially declares recessions. What Is the Actual Unemployment Rate? A very good video clip is available, courtesy of Barry Ritholtz