Actual unemployment is 37.2%, 'misery index' worst in 40 years (unemployment rate, school, retired)

[Vergofa]

I guess everyone will quibble about the numbers but there are a lot of folks who have dropped out of the work force and are hurting.

Wall Street adviser: Actual unemployment is 37.2%, 'misery index' worst in 40 years | WashingtonExaminer.com

Don't believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true “Misery Index.” Because, according to an influential Wall Street advisor, the figures are a fraud.

[greywar]

Im sure the article will be full of facts, not suppositions right? And it will...oh...no...no it won't.

A opinion hit piece, that could have been much more with a bit of effort by the author. Yawn.

[iNviNciBL3]

Do these reports count 0-14, 65+ year olds, the disabled, people who work off the grid, and full time college students?

[Grsz11]

This is an absurd number. To get 37% you have to include people who aren't in the labor force by choice like retired people and probably kids too.

[emcee squared]

Is that unemployment figure just the inverse of the labor force participation rate?

[Grsz11]

Originally Posted by emcee squared

Is that unemployment figure just the inverse of the labor force participation rate?

Not even, because it has to include people that aren't even counted in the nonparticipation. Its every American that doesn't have a job regardless of the reason they don't, like being in school, three year olds or retirees. That's why its nonsense

[Deezus]

Originally Posted by iNviNciBL3

Do these reports count 0-14, 65+ year olds, the disabled, people who work off the grid, and full time college students?

Originally Posted by Grsz11

This is an absurd number. To get 37% you have to include people who aren't in the labor force by choice like retired people and probably kids too.

The author even admits that in the article:

This number obviously includes some people who are not or never plan to seek employment.

So basically that figure really doesn't mean much. There's more retired people around today than at any other point in history(old people live much longer these days). First step for a figure that makes sense would be to filter out the retired and children and so on... Then give us a data point that reflects that.

[emcee squared]

Originally Posted by Grsz11

Not even, because it has to include people that aren't even counted in the nonparticipation.

I was just thinking about how the article's cited unemployment rate could be honestly and accurately calculated.

Seems it is just more nonsense to scare people into buying things for the ever-approaching apocalypse.

[EmeraldCityWanderer]

The is a great example of when you see a statement like "Here is the real..." or "Here is the actual..." you are about to be lied to by a person who lacks any integrity.

[urbanlife78]

Oh good, another thread fail.