stimulus: The "Real" Unemployment Rate Rises To 16.5%
- 07/02/09 01:46 AM
The Bureau of Labor Statistics announced today that the U-6 unemployment rate rose to 16.5% as a result of 467,000 jobs being lost in June. The number of June job losses breaks a trend of four consecutive months of job loss declines. The advertised unemployment rate rose to 9.5%. The U-6 unemployment rate includes three types of workers that are not part of the more publicized U-3 unemployment number: 1.) Marginally attached workers - people that want a full time job, have looked for one in the past, but are no longer looking for work. 2.) Discouraged workers - those that have given a job … (6 comments)
stimulus: There is no free lunch with falling home prices
- 02/02/09 01:55 AM
A week ago I wrote a post about Peter Schiff on the housing market. It was in response to U.S. News & World Report's Luke Mullins and an interview he did with Schiff on his blog. In the interview Schiff lobbys for home values to come down and for the government to allow the free market to sort it out. The problem with this is that a lot of people overlook is that there is no "free lunch" with a free market solution, somebody always has to pay for it, and its usually not the person who got the free lunch. … (2 comments)
The Bureau of Labor Statistics announced today that the U-6 unemployment rate rose to 16.5% as a result of 467,000 jobs being lost in June. The number of June job losses breaks a trend of four consecutive months of job loss declines. The advertised unemployment rate rose to 9.5%.
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