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Reply #74: Here's the analysis: [View All]

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snot Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jun-04-11 02:20 PM
Response to Reply #1
74. Here's the analysis:
From http://www.nakedcapitalism.com/2011/06/guest-post-yastr... in part quoting other sources available at the link:

It is difficult to compare current unemployment with that during the Great Depression. In the Depression, unemployment numbers werent tracked very consistently, and the U-3 and U-6 statistics we use today werent used back then. And statistical adjustments such as the birth-death model are being used today that werent used in the 1930s.

But lets discuss the facts we do know.

* * * * *

The Christian Science Monitor wrote an article in June entitled, Length of unemployment reaches Great Depression levels.

60 Minutes in a must-watch segment notes that our current situation tops the Great Depression in one respect: never have we had a recession this deep with a recovery this flat.

* * * * *

Given that the broader U-6 measure of unemployment is currently around 17% (ShadowStats.com puts the figure at 22%, and some put it even higher), the current numbers are that much worse.

MUCH more at the link.
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