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Don't Be Fooled By The Unemployment Numbers
I do not think the unemployment numbers are actually indicative of the true situation in this country. I believe our politicans do not want us to know the actual numbers.
The unemployment numbers are meaningless. Supposedly they are declining. Don't believe it.
They can publish any number they want. They can say we have 5% unemployment - wouldn't make it so.
In many markets, such as South Florida, the unemployment is still somewhere between 16-20%. In California, it's over 20%. Nationally, when underemploymed and those no longer looking for work are counted, the rate is nearly double the published figure at 16.6%. Labor force participation is now below 60%.
The "official" unemploymnet rate is based only on people looking for work within the month (4-weeks) preceeding the report. Anyone looking for more hours, a part-time job, or sitting it out, is not counted.
Any of us in real estate or home building - or anyone else self-employed - that stops working or can't produce an income for a brief or extended period of time. we are not counted either. Add in this number and unemployment is going to be considerably more than 20%.
When you flatten out the employment curve since 2000, ... more

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