Tuesday , November 5 2024
Home / Mike Norman Economics / Michael Snyder – The Real Economic Numbers: 21.5 Percent Unemployment, 10 Percent Inflation and Negative Economic Growth

Michael Snyder – The Real Economic Numbers: 21.5 Percent Unemployment, 10 Percent Inflation and Negative Economic Growth

Summary:
Maybe socialism in the 1970's wasn't so bad after all. KV  In the USA, "the percentage of the population that is employed has barely budged since the depths of the last recession." "According to John Williams, if honest numbers were being used the unemployment rate would actually be 21.5 percent today. "The government has simply been moving people from the 'officially unemployed' category to the 'not in the labor force' category for many, many years. "If we use the government's own numbers, there are nearly 102 million working age Americans that do not have a job right now. "That is higher than it was at any point during the last recession." The Real Economic Numbers: 21.5 Percent Unemployment

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Jodi Beggs writes Economists Do It With Models 1970-01-01 00:00:00

Mike Norman writes 24 per cent annual interest on time deposits: St Petersburg Travel Notes, installment three — Gilbert Doctorow

Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten

Merijn T. Knibbe writes ´Fryslan boppe´. An in-depth inspirational analysis of work rewarded with the 2024 Riksbank prize in economic sciences.

Michael Snyder - The Real Economic Numbers: 21.5 Percent Unemployment, 10 Percent Inflation and Negative Economic Growth



Maybe socialism in the 1970's wasn't so bad after all. KV 

In the USA, "the percentage of the population that is employed has barely budged since the depths of the last recession."
"According to John Williams, if honest numbers were being used the unemployment rate would actually be 21.5 percent today.

"The government has simply been moving people from the 'officially unemployed' category to the 'not in the labor force' category for many, many years.

"If we use the government's own numbers, there are nearly 102 million working age Americans that do not have a job right now.

"That is higher than it was at any point during the last recession."

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *