Unemployment Rate Under-Reported

The most common figure floating around as the current unemployment rate tends to be about 9.5 percent, or 14.7 million people.  However, this is apparently a somewhat misleading figure:  it excludes “discouraged workers who’ve stopped looking,” “marginally attached workers who say they’d take a job, but haven’t looked in a month,” and “part-timers looking for full-time work.” 

Adding in these groups for a more inclusive measure brings the jobless rate to a much more concerning 16.5 percent — that’s just about one out of every six Americans.  Read more here, and take a look at this recent interview with Gerald Celente, who has made a number of accurate predictions about the economy.  In this clip he discusses the unemployment rate, the failures of the president’s predictions, and his own predictions for 2012.  Thanks to LewRockwell.com for the link.

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