can you point me to a time when it ever did, on a short-term basis?CUDA wrote:and yet the current unemployment rate sits at 10% and the adjusted unemployment those still unemployed but no longer collecting sits at 17+% the stock market does not reflect the working class
I've been harping, on these pages, about the undercount of unemployment since way before the recession, so you aren't surprising me with that one. The problem is the overall change in the nature of our economy that has occurred. Much of this sea-change came since 1980, when a new attitude toward the prominence of short-term corporate profit, to the detriment of long-term growth planning, took hold. To put any of this stuff onto politics is really short-sighted, as there are more powerful forces at work than the Congress or the President, when it comes to money......The official unemployment rate may also be dramatically inaccurate based on the Bureau of Labor Statistics method of calculation.
If the government was still calculating the unemployment rate using the same criteria and methods that had last been used during the Clinton administration, the “official” unemployment rate today would be closer to 18%
