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Originally Posted by dirtywhiteboy
In theory that would be true but that 92% is really those who are physically able to work. If we counted in elderly and those who can not physically work it is something like 14 to 15%. Don't quote me on that number as that is a hypothetical scenario they toss around only when the situations get this bad.
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DWB is on the correct course in his statement.
Truth is , the U.S. Government , nor anyone else really knows precisely how many are unemployed. The government reports from a statistical standard know as " U3 " that was created just after the 1980-82 recession , which is generally acknowledged as the worst recession - post WWII - until now.
The current rate of 8.1% with approximately 12.5 million unemployed is the U3.
The " U6 " calculation is the broadest measure including those workers who are marginally attached , former full-time workers now part-time or less , and those that have dropped-out , i.e. no longer actively seeking work. The government will never speak of this U6 statistic for obvious reasons.
The current U6 is thought to be 18.0% representing nearly 23 million people.
This is a number as great as the entire population of the state of Texas !
Anyone who does not recognize the severity of this problem and all others related to this economy need not watch the evening news regardless of your beliefs. There is no denying what is real.
We are all living in a historic time that will be remembered for generations to come.
:eek: