America’s Effective Unemployment Rate at 18.7%?
Posted By admin On July 2, 2009 @ 12:38 pm
In Economic Crisis Steve Clemons
The Washington Note
July 2, 2009
Each month, I receive from Leo Hindery an update on “America’s effective unemployment rate” which includes not only the official unemployment figures but other data points showing off-the-books unemployed or underemployed people.
The numbers are staggering and are aggregates of official data. They matter because various Obama administration officials including the President himself started off calling for huge stimulus packages to help generate “jobs, jobs, jobs!”