7.8% my eye!


blackhorse

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Adam already started a thread about the inaccuracy of the 7.8% figure, but it was interesting to read the comments in your link. My conclusion is that America should just split into two countries...

What purpose would that serve? And how would the territorial borders be drawn? And most importantly who would get the beach-front property?

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I would estimate the real unemployment rate to be double that of the "official" unemployment rate.

One has to factor in those people who are no longer looking for jobs.

And then there are the shitty part time jobs. Each of those should be reckoned as a fraction of a real full time job (40 hrs a week).

Ba'al Chatzaf

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Weekly Jobless Claims Drop Proves to Be Short Lived

Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week's sharp drop. Both swings were largely due to technical factors.

job_fair_200.jpg

Mark Ralston | AFP | Getty Images

Unemployed Americans attend a National Career Fair

The Labor Department says the four-week average of applications, a less volatile measure, fell slightly to 365,500, a level consistent with modest hiring.

Last week, California reported a large drop in applications, pushing down the overall figure to the lowest since February 2008.

This week, it reported a significant increase as it processed applications delayed from the previous week. (Read More: Why Jobless Claims May Not Be as Good as Market Thinks)

http://www.cnbc.com/id/49460659

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