CHART SHOCK: The REAL Unemployment Rate Is 22%

It's now above 23% with the October update.  Details from John William's Shadow Stats.

• See the Data at Shadow Stats

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.

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Update on Sep 2, 2011 at 12:35 PM by DailyBail

Updated with the August numbers released this morning.

Comments

[DailyBail]

Reid's Opposition To The 'Ground Zero Mosque' Surprises Dems -- And Leaves Them Vulnerable

http://tpmdc.talkingpointsmemo.com/2010/08/reids-mosque-position-leaves-dems-raw.php

[DailyBail]

WASHINGTON (MarketWatch) -- The Federal Reserve's surprise decision to launch a new quantitative easing program last week was not taken because the central bank has new doubts about the recovery, said Narayana Kocherlakota, the president of the Federal Reserve Bank of Minneapolis on Tuesday.

http://www.marketwatch.com/story/fed-has-faith-in-recovery-kocherlakota-2010-08-17

[DailyBail]

'Obama won't hit Iranian reactor'
By DOV PREMINGER
08/17/2010 18:24

Bolton claims Israel has only 3 days to strike Bushehr plant

http://www.jpost.com/IranianThreat/News/Article.aspx?id=185060

[DailyBail]

Conservative Civil Rights Commission Asks Congress For Permission to Sue DOJ

http://tpmmuckraker.talkingpointsmemo.com/2010/08/civil_rights_commission_asks_congress_to_sue_doj.php

[DailyBail]

As John Williams (shadowstats.com) has made clear on many occasions, an appearance of recovery was created by over-counting employment and undercounting inflation. Warnings by Williams, Gerald Celente, and myself have gone unheeded, but our warnings recently had echoes from Boston University professor Laurence Kotlikoff and from David Stockman, who excoriated the Republican Party for becoming big-spending Democrats.

http://www.infowars.com/the-ecstasy-of-empire/

[DailyBail]

http://www.nytimes.com/2010/08/17/business/global/17denmark.html

Denmark Starts to Trim Its Admired Safety Net

[DailyBail]

So no comments on the fact that 1 in every 4.75 americans is unemployed...

[Sagebrush]

Just from what I had been hearing and seeing in my state I knew the 9-1/2 percent figure the administration and media were claiming was absolute bull crap. I figured 17 to 20 percent maybe.

22 percent and the recession starting to rev up like a tornado is pretty scary. I've got a lot of friends out of work and it's depressing to see them lose everything they've worked their butts off for.

Didn't someone say recently that the recession was almost over or or am I imagining things? I think it was one of those real smart guys from the FED or the Treasury, you know who I mean.

[S. Gompers]

Unfortunately, it is something I already knew, with more and more offshoring, outsourcing, and part time menial employment, it is bound to get worse.

You just can't move a factory overseas, and replace it with a fast food restaraunt, and call it square. When Americans can no longer spend, the whole world will suffer...

About that time, the increased taxes will begin, so we can pay for all this bailout ignorance, and the house of cards will collapse even faster.

[Don Robertson]

The Enlightenment's Science, Liberty, Equality and Tolerance have all given humanity impossibly bloated human populations.

Now humanity has the choice to bow down, shackled -to the suicidal death-wish of science and become the mindless and doomed slaves science demands -OR- humanity can abandon the path of science and revert back to our barbaric human selves -which is the only infinitely sustainable course.

I definitely prefer the latter course. Life is good, damned good.

OFF WITH THEIR HEADS!

Don Robertson

[James Winstanley]

It is not easier to tell people that today it will be constant drizzle instead of scattered thunderstorms?

Is it not easier to tell people that today 1 in 10 Americans are unemployed instead of 2 in 10?

Folx, we are being played like a fiddle.

[DailyBail]

agreed james w....

[JTS]

The gov numbers are just bullshit to keep people from panic and cival unrest.

[Obbop]

"There's class warfare, all right, Mr. (Warren) Buffett said, but it's my class, the rich class, that's making war, and we're winning."

[Texas Dar]

The gov numbers are just bullshit to keep people from panic and cival unrest.

They know the Real #'s, as we do. But by telling us its 9.8 over & over & over, in thAre mind it must be only 9.8........ Pluss that way they done need to say their sorry for cauzing this mess were in.

If they did admitt to the real #'s, the people would take to the streets as we see in other countrys right now. And they know that they would "Bleed Like a Stuck Pig" if the people got a hold of them....................

[Sell Short]

scary

[JTS]

Gomp and i talked about this a ;ong time ago. The numbers they throw out come from hours on hours
of study .From the overpaid people with gov jobs.when it is said and done they put 9 or 10 pennies
in a hat let them hit the ground and count.

I have read over and over when a group between 18 to 35 year old reach about 25 30 % unempoyment
cival unrest starts.I think i will start hijacking Gomps chickens.LOL

[James Winstanley]

Whoa. They _can_ count?

Considering this is the same government that misplaces billions of dollars per year yet goes after the little people for pittances instead of finding the Bernie Madoffs (hey, here's a hint folx, never do business with a guy whose last name sounds like made off, or Howe, Dewey, Screwem and Wenn) while letting the big crooks get away with financially screwing us over.

Like Mike Rivero says, "The last act of any government is to loot the populace."

[Howard T. Lewis III]

Mr. Buffett calls scurying around with back stabbing, genocide and theft class warfare. I call it warfare after the civil response is complete.

Great job on the labor stats. I might get to use it in court. I certainly am using it out of court.

[Dave]

Rand Paul with Wolf Blitzer discussing the what if's of this current debate.
http://www.youtube.com/watch?v=dpIKf7t4FWA&feature=youtube_gdata_player

[Wil Martindale]

All part & parcel to the Foxconn CON.
"Corporations make big profits employing foreign labor over there, and are supposed to hand over “a share” to Big Brother so he can provide “entitlements” to the unemployed over here – for votes of course."
http://letthemfail.us/archives/10264

[TR]

I just got a job in management in China: $1.75/day ,no ins. no sick pay, no time off, no nothing.
The rest of you stay here & starve & envy my outsourced job.

[Dave]

What surprised me is what I get from the USDOL as a subscriber through USA.gov. Always showing a DECREASE in unemployment claims. For the longest time I did not even know that that ones that no longer get unemployment are not in the count. I'm sure this is deliberate though they have leverage in doing so in order to say, Hey! see things are looking better in the employment (not unemployment ) issue. It.s great political verbal judo even though one could argue its better to stay positive. But tell that to someone like me who is unemployed. Here are the lasted on those reports.

Subject: Unemployment Insurance Weekly Claims Report Update
Reply-To: United States Department of Labor <subscriptions@subscriptions.dol.gov>

You are subscribed to Unemployment Insurance Weekly Claims Report for the U.S. Department of Labor. This information has recently been updated.
In the week ending July 30, the advance figure for seasonally adjusted initial claims was 400,000, a decrease of 1,000 from the previous week's revised figure of 401,000. The 4-week moving average was 407,750, a decrease of 6,750 from the previous week's revised average of 414,500.
Read the full news release.
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[Dave]

And this:

http://www.dol.gov/opa/media/press/eta/ui/current.htm

[Canuck]

DOJ Advises Gibson Guitar to Export Labor to Madagascar

according to CEO Henry Juszkiewicz, agents of the United States government are bluntly informing them that they’d be better off shipping their manufacturing labor overseas.

http://www.redstate.com/aglanon/2011/08/31/doj-advises-gibson-guitar-to-export-labor/

This is just bizarre to me. Wtf are they doing?

[john]

@Canuck.... Collective punishment.

[Texas Dar]

Showing the American People that from this day forward, if you send any money to the Reb. this is what will happen to you......

[S. Gompers]

Happy Labor Day everybody, for what it is worth...

[Jim]

One minute vid says it all...

http://www.youtube.com/watch?v=3pH9OborFYs

[Jack]

I figured it out myself. The official unemployment figures are taken from unemployment office and do not take into consideration people who no longer received unemployment benefits but are still unemployed. The official unemployment actually classifies those people as employed.

[Texas Dar]

And the Real

#'s are 22-23 % of people out of a Real Job.........The one thing our goverment dose do, and do very well, Is Lye.............Its the only thing they can do right.