US, world headed for 25 year depression: Jim Rickards

US, world headed for 25 year depression: Jim Rickards

“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.” Well, it's been in the works for

Read More

Canadian banking haven myth exposed

Canadian banking haven myth exposed

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks." The sorry spectacle of Conservat

Read More

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

Read More

E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

Read More

US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

Read More

Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

Read More

Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

Read More

Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

Read More

Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

Read More

World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

Read More

Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

Read More

US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

Read More

Content By: The Coming Depression Editorial Staff (dates cited below)
Copyright: include link to this article on top of reproduction if you use it.
Bookmark and Share
(No Ratings Yet)
Loading ... Loading ...

unemployment line
Measuring unemployment is an art which can lead to highly variable rates. Unsurprisingly, the U.S. government uses a method that excludes millions of Americans who seek employment. The lower rate is often used to prove that the American economic system is superior to those in Europe where their unemployment rates are attributable to unions and socialism, which guarantee workers health care and paid vacations. The implication is that while many American workers lack such benefits, at least they have jobs. This argument is wrong because unemployment is measured differently.

23 states report higher unemployment in September
Oct 21 12:31 PM US/Eastern By CHRISTOPHER S. RUGABER AP Economics Writer

WASHINGTON (AP) – Unemployment rose in 23 states last month as the economy struggled to create jobs in the early stages of the recovery.

unemployment map cnn

While layoffs have slowed, companies remain reluctant to hire. Forty-three states reported job losses in September, while only seven gained jobs, the Labor Department said Wednesday.

Some of the states that lost jobs still saw their unemployment rates decline, as discouraged workers gave up looking for work. People who are out of work but no longer looking for jobs aren’t counted as officially unemployed.


Comments

Discouraged workers are persons not currently working or looking for work but indicate that they want and are available for work and have sought work in the recent past. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not being currently employed. Persons employed part time for economic reasons are those who want and are available to work full time but had to settle for a part-time schedule. This is all part of government propaganda and double speak to show that they are seeking work but not seeking work and have sought work in the recent past. Consequently, those people who want to work are not counted as unemployed.


Original article continued

Michigan reported the nation’s highest unemployment rate at 15.3 percent. It was followed by Nevada at 13.3 percent, Rhode Island at 13 percent, California at 12.2 percent and South Carolina at 11.6 percent.

Real estate continues to bedevil states that enjoyed a housing boom. Florida’s jobless rate rose to 11 percent from 10.8 percent in August, as the state lost nearly 13,000 construction jobs. California lost 39,300 jobs, including more than 14,000 in construction. Nevada lost 3,500 construction jobs, though it boosted employment in services.

Original story appears on Yahoo News

Related posts:

  1. World unemployment highest ever: UN ReportThe United Nations says that nearly 212 million people were unemployed in 2009. That is 6.6 per cent of the global workforce. According to a new report the situation in...
  2. US Real Unemployment Rate at 17%: ADAHow are the figures really determined? Figures for unemployment are published on a monthly basis are in fact derived from a monthly survey of 60,000 households in the United States,...
  3. Jobless rate reaches 9.8 percent in SeptemberCHRISTOPHER S. RUGABER (AP) The U.S. unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report shows...
  4. US Census Bureau report: 40 million living in povertyKate Randall WSWS September 30, 2009 The overall poverty rate in the US rose to 13.2 percent in 2008, as workers across all sectors of the economy became jobless and...
  5. 1.5 Million Californian workers lose unemployment benefits“Some 200,000 jobless Californians have already lost their unemployment benefits, and that figure is expected to rise to 1.5 million by the end of the year without an extension from...
  6. Unemployment rate flirts with 10 percent“In 2008 and 2009, we lost 8.36 million jobs,” he said. “We’ve gained back 951,000, which is 11.4 percent of what we lost, so it’s taken us a year to...

This entry was posted on Wednesday, October 21st, 2009 at 2:00 pm and is filed under Main Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 Comment

  1. April 15, 2010 @ 11:13 pm


    Even with this additional analysis the numbers are very wrong, esp for Michigan. These figures do NOT include the massive loss of population in that state, but count only people who remained. It also does not take into account the many villages and towns that have closed outright. Thanks to DHS, border blockages have created an $8 billion loss to the state in trade with Canada, and all the many small businesses that depended on that trade to remain operational. The catastrophic drop in tourism has meant huge numbers of small business closings throughout outlying areas of the state. As you can see, the figures above do not include small business owners and the self-employed who don’t even qualify for unemployment benefits. All told, among the remaining population, unemployment exceeds 50%, because the many retirees living on pensions and social security have been padding the ‘employed’ citizen numbers. The unbelievable blindness of the politicians to the state of this state has meant that, instead of cutting government down to size, they have instead increased costs, fees and taxes on the few citizens who struggle to remain in their home state.

    Posted by Margaret

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.


Under the 'fair use' rule of copyright law, an author may make limited use of another author's work without asking permission. Fair use is based on the belief that the public is entitled to freely use portions of copyrighted materials for purposes of commentary and criticism. The fair use privilege is perhaps the most significant limitation on a copyright owner's exclusive rights. "