REAL Unemployment At 15.6% Per CNBC

[JustPullinYourChain]

Hey Guys,

Unemployment numbers came out today 4/03/09.
Unemployment is at 8.5% - the highest since November 1983.
Actual REAL unemployment is at 15.6% - the highest since this number has been tracked.

Below is the video link to this CNBC report.
The REAL unemployment feature appears 1:50 into the presentation.

http://www.cnbc.com/id/15840232?video=1081651256&play=1

[pjbrownie]

So what figure did they use during the Great Depression?

[JustPullinYourChain]

So what figure did they use during the Great Depression?

I don't know what unemployment number equates to the beginning of an economic depression, but in 1932 it peaked at 24.9% and by 1939 it was at 17.9%

Perhaps though we need to take a little different perspective on the difference between a recession and a depression.

A recession is when your neighbor loses his job.

A depression is when YOU lose your job.

[caddis]

So what figure did they use during the Great Depression?

I don't believe they figure the unemployment rate the same way as GD1 but from what I understand U6 is the closest measure of actual unemployment.

[gruden]

Actually we're pushing 20%



Shadowstats calculate unemployment the same as the government used to during the Depression. So we're getting close to peak GD unemployment numbers.

But yes, if you pay attention to the U6 data, the gov't is willing to fess up that unemployment is higher than the U3 data, which typically is quoted most often in the MSM.