Monday, September 07, 2009

Labor day on 'the real news'

The Real News on Youtube.

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At September 08, 2009 6:42 PM, Blogger Charles F. Oxtrot said...

The video talks about a "real" unemployment rate of 16.8%.

There's nothing "real" about a percentage that is understated by at least 7 or 8 percentage points. Employment below the poverty line is not employment that should be tallied on a national employment rate. Moreover, when so many earn millions per year for doing absolutely no work, the rate is highly skewed at the top end.

I would estimate an honest rate of about 30%. But if such a rate were made public, we'd see another Haymarket Riot.

How ironic!

At September 08, 2009 11:43 PM, Blogger Jonathan Versen said...

Hi Charles.

A poll on's net front page on labor day asked if people had a job to go to on Tuesday, and the answers, admittedly unscientific, etc., were 25 percent negative.

At September 09, 2009 7:36 AM, Blogger Charles F. Oxtrot said...

Thanks for that bit, Jonathan, I didn't see that.

In my town it's probably close to 35-40% and I just cut a bit off that when I said 30% because I suppose in some places it's a bit better than 30%. My brother lives in DC and he says it's not so bad there... for him. He works for a big Fed Govt contractor though so he doesn't see the same roughness as many of the rest of us.


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