Barons: Economists say Job Market Far Worse/Real Unemployment 9.4% [View All]

[Clinton Crusader]

Barons: Economists say Job Market Far Worse than Data Suggest, Real
Unemployment 9.4%

Barons: " rate is ... mathematical sleight of hand. he actual number may be closer to 6.4, 7.2 or 9.4%.

The reason the unemployment rate has stayed so low, these economists
argue, is not due to improvements in hiring trends. Instead, people are 'dropping out' of the labor force. early two million additional
unemployed people who are not showing up in the unemployment rate data. ISI Group's Tom Gallagher noted that 'if the participation rate was at the older, higher level, then the unemployment rate would be around 7.2%. Even using a 10-year average of participation rate yields a 6.4% unemployment rate.' If that sounds bad, consider what happens when we add the 'so-called marginally attached workers and part-timers who really want to be working full time.' Barron's Alan Abelson unemployment rate 9.4% 'we're now 9.3 million jobs below where we'd be in a 'normal' recovery.'"

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http://online.barrons.com/article/SB109752791818742244.html

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