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Are We Experiencing Depression-Level Unemployment?
George Washington’s Blog
Wednesday, Feb 4, 2009
The government bandies around scary figures concerning rising unemployment. But those figures are still well below those suffered during the Great Depression.
Right?
Well, it depends.
The official unemployment reports of the Department of Labor’s Bureau of Labor Statistics provide conventional “U-3″ figures and various alternative measures including “U-6″. For example, as of December 2008, U-3 unemployment was 7.2 percent, while U-6 was 13.5 percent. (U-6 is actually more accurate, because it includes those who would like full-time work, but can only find part-time work, or have given up looking for work altogether).
The U-6 unemployment rate is therefore almost double the more commonly-cited U-3 figures.
But those in the know argue that the real rate is actually higher.
For example, leading economist John Williams and Paul Craig Roberts – former Assistant Secretary of the Treasury and former editor of the Wall Street Journal – both say that if the unemployment rate was calculated as it was during the Great Depression, today’s figure would actually be 17.5%.
(Article continues below)
Indeed, according to an article summarizing the projections of former International Monetary Fund Chief Economist and Harvard University Economics Professor Kenneth Rogoff and University of Maryland Economics Professor Carmen Reinhart, U-6 unemployment could rise to 22% within the next 4 years or so.
So what are the best unemployment estimates? And where will the unemployment numbers end up?
I’m not sure. But when you scratch the surface of the “official” U-3 figures and measure things the way they were measured in the ’30’s – and when you remember that the worst unemployment numbers did not occur until 1933, 4 years after the 1929 crash – these sure sound like Depression-level unemployment figures.
Indeed, as shown in this chart, unemployment percentages may already be worse than they were during the start of the Great Depression.
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39 Responses to “Are We Experiencing Depression-Level Unemployment?”
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February 4th, 2009 at 5:07 am
Mankind’s Last Chance Blog – The End is Coming
Bahá’u’lláh the Beast of Book of the Revelation
http://mankindlastchance.wordpress.com/
enough allready Reply:
February 4th, 2009 at 8:16 am
If Alex stopped talking about himself, all the stars he knows and how much he’s doing for all of us, he would only have a 30 minute show
CW Reply:
February 4th, 2009 at 8:55 am
^Paid disinfo agent
Michale Reply:
February 4th, 2009 at 2:35 pm
^moron who has lost his mind
February 4th, 2009 at 5:30 am
Well this manipulated figure is set tog row with GM announcing they are buying out any employee with $20,000 and a $25,000 car voucher. Since this is admittedly open to all employees, I suspect GM will be opening another plant somewhere. Not long ago, they opened one in Mexico (they’ve had them in Canada for a long time). One wonders how many jobs they want to bleed off to save money or are they trying to relocate and this is meant to soften the blow?
February 4th, 2009 at 5:46 am
Folks, TODAY around noon time (eastern coast) will be introduced
FREE ENERGY TECHNOLOGY
cheap, affordable, scientifically proved, decentralized,
no wind, no solar, no water, no combustion
check around noon time:
http://www.ORBO.com
illuminati will lost another big chunk of theit power (and money)
LiveFreeOrDieFighting Reply:
February 4th, 2009 at 7:50 am
Drumrole please……………………what is behind the curtain…………
http://www.steorn.com/
Let me guess…………a horse and buggy.
blindboy Reply:
February 4th, 2009 at 8:41 am
Here we go again. I wonder if the studio lights will still be too hot this time……….
February 4th, 2009 at 7:33 am
Free and cheap energy would go a long way to helping people get through this crisis.
I think it could be worse than the Depression because there is so little manufacturing base left in the US and so few small farms etc. The service jobs could all go in a domino effect.
There is also far less of a family support network. Finally, the US is being run by an out and out bunch of criminals, who want to suck as much out of the economy as they can.
The solution is to mount a revolution, a second revolution, and restore law and order and the Constitution, guarding against corruption.
February 4th, 2009 at 7:36 am
Here is Australia, thing are very grim. There are no immediate engineering projects starting in 2009 and the ones that are going have been scaled back or shelved. Thus “demobilising” all engineers, designers and draftsman in its wake. The reason no liquidity from the client as the banks aren’t advancing any money for projects without more calaterial.
Now our CFR Prime Minister is saying he wants a AUD$42B stimulus package similar to the one in America. His big ticket is free insulation (AUD$6B+) in homes to reduce our carbon footprint and a extensive building program that reminds me of FDR in the USA in the 30’s. If a national shame to be spending that much money on filling up ot holes in my country and building future toll road for overseas corporations.
Also there is a knock on effect. If engineers are out of work, then fabrication yards are out of work. Whats little there is of them left in this country.
Anyway though I should give some PP an idea of whats happening in the land down under.
Peace be with us all in these troubling times.
Gary S Reply:
February 4th, 2009 at 10:11 am
@ Wizard:
Don’t worry, your engineers will soon be back to work. As the economy begins to unravel evne more and governments cut spending on basic infrastructure, you can expect foreign companies to swoop in like buzzards and cheaply infuse cash into governments by purchasing your roads, water facilities etc. Then, you’ll pay the government all the same taxes as before along with special tolls and fees to your new corporate overlords. Don’t believe me? Just come visit America sometime.
February 4th, 2009 at 7:51 am
Theres probably over 20 million people unemployed in the U.S. and getting worse.
http://pencildicksvstheworld.blogspot.com/
Harpospeaks Reply:
February 5th, 2009 at 5:22 am
Getting worse would be good….l HOPE its Obamas fan base that are affected with job losses….massive stress ect…..they deserve it.
Thats the CHANGE l would love to see for being sooooooo DUMB, LAZY and IGNORANT.
February 4th, 2009 at 8:25 am
I agree with you Craig. We’re sitting back and watching these so called pastors on radio planning to leave this country. They call themselves patriots, they are nothing but chicken sh-t cowards, turncoats. I spit on their shoes and call them yellow bellied cowards for abandoning the true Americans so they can chase after money or try to save their money in offshore accounts. I got news for them…Hope Rick Wiles on http://www.trunews.com is reading this….the money collapse is worldwide, you can’t hide anyplace you turncoat!
ticked me off listening to him last night calling Jordan and Icke and others mentally ill.
AHHHHHHHHH. Am so mad I could chew nails right now. Shame on you Rick Wiles you are not a patriot, you are a TURNCOAT.
February 4th, 2009 at 8:51 am
Hide the real figuires so the ZOMBIE masses wont realize the prison system is helping with ALL the unemployed…the Popo”z is still hiring!
thetoothfairy Reply:
February 5th, 2009 at 12:25 am
You forgot about the military.
February 4th, 2009 at 9:13 am
While those of us who are going to be helping feed Americans whether in our communities or taking a chance by going into town to hand out soup, and help those who are homeless and broken hearted, I say again…you piece of crap pastors who pass them by in pursuit of your luxury living and real estate dreams in other countries, may you get caught with your pants down and the lice in your drawers. Turncoats! The lot of you so called pastors.
A carribean island city? For the remnant you say??? The remnant do not celebrate pagan holidays. Sounds like you want to build a plantation in the carribean. God almighty people, this is nothing but a turncoat. Expose Rick Wiles now! No wonder Peter Schiff hung up on him in an interview. Expose this charlatan!
February 4th, 2009 at 9:22 am
9/11 = Israel
How many of you know that ONLY (5) Israelis died on 9/11?
1 Israeli = on 1st plane to hit North tower
1 Israeli = on 2nd plane to hit South tower
2 Israelis = Inside WTC
1 Israel = WTC Janitor with keys
EXAMPLE that 9/11 was an inside job:
Stand up straight. Hold (2) 20lb sacks of bullshit, 1 over your head and 1 outstretched over thin air. Now drop both sacks of bullshit until you can get the one over your head to fall through your body at the same speed as the one through thin air. Good luck. It is bullshit.
not ken Reply:
February 4th, 2009 at 1:51 pm
would you please post the website for your k k k charter?
we would really love to see what you all are up to!
When will you k k k neo- na zi radical ji ha d ists stop making the blaming the victim?
you blame the Jewish people for the deaths of 6 million Jews, you blame the Jewish people
for I’m a dinner jacket, you blame the Jewish people for 911, you blame the Jewish people
for the financial crisis now, and the ones in the past, you blame the Jewish people for
all wars, you blame the Jewish people, you blame the Jewish people, you blame the Jewish
people, you blame the Jewish people, you blame the Jewish people, you blame the Jewish
people, you blame the Jewish people…
Are you sick or something? Has someone removed your brains? Did you drink stupid-aid?
What in God’s green Earth has gotten into your rotten innards?
All you ever do is promote hate and the extinction of an entire people? Are you really
that dumb? Are you really that brainwashed? Are you REALLY that STUPID?
You think so? Reply:
February 4th, 2009 at 4:11 pm
Actually, it’s a matter of historical fact that the modern concept of the Aryan race was created and popularized by a Russian Jew, who was, coincidentally also Hitler’s spiritual advisor. You probably don’t know that since it’s not in the government issued books you read at retard college. Now which pipe will you be smoking that from?
New World Order Reply:
February 4th, 2009 at 2:22 pm
Ha ha ha do you really think the masses fall for this! made up propaganda get a life!
I got yur propaganda Reply:
February 4th, 2009 at 4:36 pm
Why not, they fall for global warming?
February 4th, 2009 at 9:52 am
The implosion of the world’s economy is being orchestrated by our private Federal Reserve & the other central banks!!! It’s a scheme of the Illuminati/NWO/globalists to destroy U.S. sovereignty & usher in a one-world dictatorship!
The Elites/Illuminati/NWO/globalists are sick eugenicists who want a herd of merely 500 million sheeple in the entire world, under their control, to serve them under a feudalistic system!
Obama is a tool of the Elites, as were all our other presidents for decades before, with the exception of JFK, perhaps. The Republican/Democrat, left/right paradigm has been infiltrated & neutralized—they are two sides of the very same coin.
remove brainwashing Reply:
February 4th, 2009 at 1:53 pm
There is not a single Arab in the State of Israel or in the territory of the Land of Israel who does not have an Arab homeland (and for that reason you are “Arabs”).
You invaded/trickled into/infiltrated the Land of Israel with the protection, encouragement and support of the Ottoman occupier and of the British occupier, but you did not therefore become owners or sovereigns.
Open a world map, Arab from Israel. You will find that the area of the Arab countries (22) is bigger than that of the continent of Europe; and that the area of all the Muslim countries (56) covers one-third of the globe. An indescribably massive territory; oil resources and unfathomable wealth.
So, on the face of it, it seems really okay that the Jewish people has one teeny-tiny state of its own, without having to divide it with another Muslim Arab people. No?
And let me tell you a few things about the Palestinian “people”. You are not a people. You are a Muslim fiction with one single purpose – to conquer the Land of Israel.
Let’s begin with your name. The Romans conquered Israel and called it, in an act of occupation, Provincia Palaestina – named after the Philistines who settled the Israeli coastal cities. The Philistines were red-haired seafarers who arrived at Israel’s shores from Europe and disappeared from our region about 1,600 years before Muhammad was born.
The Arabs, who originate from the Arabian Peninsula, have no connection whatsoever to the Philistines – not genetically, not religiously, not culturally, not historically and not geographically. You are Arabs and not Philistines. By the same token, the Romans could have called Israel Provincia Schweizaria. Would that have made you Swiss?
And as for the Land of Israel, Samer from Haifa, choose any historical record, any historical map, any historian recognized by the international academic community that will show us where Palestine is; when there was ever in human history a state or land called “Palestine; when there was ever in human history a nation called “the Palestinian people”. Who are you? Where did you come from? And what is your connection to the territories of the Land of Israel? You are unable to find one single detail anywhere in the world, including among Arab and Muslim researchers (including the Koran, in which the Land of Israel is called “the land of the people of Israel”), that supports your claims.
There are British records from the period of the British Mandate, Turkish records from the Ottoman period, records of all the occupations that have taken over the Land of Israel – there is no mention of a Palestinian people or a Palestinian State.
And so, let us agree that if you find any record at all (that is not part of the Palestinian propaganda that retroactively alters historical facts) of your national existence and presence in the Land of Israel, we will then have something to start with.
You are an incidental collection of factions and factionalism from around the Muslim world that hate each other almost… almost as much as you hate us. That is, in effect, the only thing that unites you – hatred for the Zionists. That is the most pathetic basis upon which to establish a people!
In 1948 the number of Arabs in the Land of Israel was equal to the number of Jews in Arab lands. The 20th Century was a century of migration and population exchange across the entire globe. All the Jews of Arab lands migrated to their homeland Israel; all the Arabs from Israel were supposed to migrate back to their Arab homelands.
Not only did you not do so, you continued to infiltrate and penetrate into the territory of Israel in every clever way possibly imaginable. And the feeble policy of the State of Israel made it possible for you.
In practice, you currently have a Palestinian State, which is Jordan. But you want three Palestines for yourselves: Jordan; “New Palestine” to be established in Gaza and the West Bank; and, of course, the Israeli Arabs who see themselves as Palestinians will continue to live in Israel and bring more and more Palestinian “brothers” to them from around the world. Thus, in another decade or two the Jews will be a minority in their land and Israel too will become Palestine. That’s not for us.
Therefore, this is what will ultimately happen, even if our Left is spreading delusions that fill your hearts with great hope: you will have to return to your homeland. It will happen peacefully or by the sword.
Over the years (with the Zionist settlement), you have adopted for yourselves the Jewish ethos. That is, the holiness of Jerusalem and the return to Zion. You may have built a mosque in the center of the Jewish Holy of Holies (a popular Muslim tradition worldwide), but your holy city is Mecca, not Jerusalem, and you have a “right of return” only to your Arab homeland, not to Zion.
In conclusion, I recommend to you a likable book filled with humor. It’s called Innocents Abroad, written by an author named Samuel Clemens (known by his nickname Mark Twain). In 1867, he traveled the length and breadth of Israe. He saw here no Palestinians, no verdant orchards, no Arab villages and no teeming cities. Nothing. He saw, and described, neglect, swamps, cholera, malaria, sand. “A mournful expanse” is how he described the Land of Israel. Everything here in this Garden of Eden called Israel was built by Jewish genius. It is no surprise that you and your brethren covet it!
And if you are sitting in your house connected to electricity and typing a reply on a computer, that is because the Zionists organized a state here that allows you a standard of living that is completely different from that of 99% of your sisters in the Arab states.
DreamLand Reply:
February 4th, 2009 at 4:40 pm
You cannot penetrate into a country which does not exist. Jewish genius is an oxymoron, since Jews mostly take credit for others peoples work. The Arab states are fucked up because western intelligence agencies have been subverting their economies for almost a century. The will YHVH is survival of the fittest, it looks like you guys are in trouble! Suck it!
February 4th, 2009 at 10:56 am
I agree i was just told i wont have work because of a slow economy till March at the earliest, this sucks bigtime. The crappest thing of all is most of us reading these comments new this was coming and either didnt take it serious or didnt prepare like me. Fuck this life sucks
Please visit and click on some of the GOO-GLE ads to support and fund my website, thanks!
Keep the faith!
http://www.info-warriors.com
February 4th, 2009 at 10:59 am
ya this ecomony is going down fast!
Check out my site peeps! Its pretty new and needs some work. Please visit and click on some of the GOO-GLE ads to support and fund my website, thanks!
Keep the faith!
http://www.info-warriors.com
February 4th, 2009 at 11:01 am
Well, add one more. I JUST got let go ‘due to re-structuring’.
Bastards! Westport Power is a farce and a joke!
February 4th, 2009 at 11:22 am
Unemployment is higher than published stats. Create livable alternatives to wage slavery at my blog – just click my name
thetoothfairy Reply:
February 5th, 2009 at 12:30 am
Plus there are a bunch of people like me who were unable to get through on the phone lines “due to high call volume” and told to call back, and then got the same message again and again. Eventually, I was instructed that I had to re file my claim, because I had failed to file, and that I would need to speak to a representative. If you can’t even get through on the automated line to file your claim, you can guess how hard it is to actually contact a live person.
February 4th, 2009 at 12:07 pm
Are there any job openings for palm leaf fanners? I gotta loincloth……..
Randy Reply:
February 4th, 2009 at 2:14 pm
There will be openings soon for pot-hole-fillers. And if you don’t do a good job: NO SOUP FOR YOU!
February 4th, 2009 at 1:57 pm
How about all of us small business owners? I am in the wood working trade, and jobs have fallen off by over 90%!!!! But my property tax went up 80.2% 2 years ago!! Ah what a great country we live in.
February 4th, 2009 at 2:17 pm
I live in the UK and I swear, nothing has changed: I still see people out partying, boozing, eating in restaurants, white-wine swillings whores (most of London’s workforce) still trawling the shops for their crap. Things seem fine.
February 4th, 2009 at 2:20 pm
You can not win! Join the winning side! Give in to the dark side! Surrender your soul! You have been defeated! The world hates you!
Feel the power of the dark side! do not protest! do not go against your leaders!
Feel your mind! is it clear can you concentrate! abort your children! give your children vaccines feed them GMO food it is all for your benefit
February 4th, 2009 at 2:25 pm
Revolution
The Federal Reserve bankers took over America in 1913. America was conquered when the Federal Reserve Act was passed.
It is time for revolution. And the only revolution that will be effective against the central bankers is a monetary revolution.
If you stop using the filthy money that they supply to you, their banking system will dissolve. When you switch to an alternative currency the bankers will no longer be able to steal from you through inflation and usury. You will not be dependent upon them for credit and you will no longer be dictated to by the politicians that the bankers employ.
Click the link below to explore a new inflation-proof currency, new economic format and new social structure that leaves the criminal bankers and corrupt politicians out of the picture altogether.
Don’t fight the system:
Replace it
http://socialviability.com/
thetoothfairy Reply:
February 5th, 2009 at 12:32 am
Great idea. I already do this to some extent.
February 4th, 2009 at 4:22 pm
hope nosis http://www.youtube.com/watch?v=s129YOqVvsk mindcontrol manstream media
February 4th, 2009 at 5:50 pm
Bush(jr) look_alike Reporter: How long will this ZioCon Depression last? Obama (in a rehersed manner): My fellow Americans…OUR country is BANKRUPT…so I have begged the the FED to print us more MONEY.