Or maybe the national rate at 16%, quoted by a Federal Reserve Chief would make things a little more believable. I just absolutely hate the lies coming out of Washingtoon and the news.
"US unemployment rate at 16 per cent
AFP
Thursday, August 27th, 2009 09:50:00
WASHINGTON: The real US unemployment rate is 16 per cent if persons who have dropped out of the labour pool and those working less than they would like are counted, a Federal Reserve official said yesterday.
“If one considers the people who would like a job but have stopped looking — so-called discouraged workers — and those who are working fewer hours than they want, the unemployment rate would move from the official 9.4 per cent to 16 per cent,” said Atlanta Fed chief Dennis Lockhart.
Lockhart pointed out in a speech to a chamber of commerce in Chattanooga, Tennessee that those two categories of people are not taken into account in the Labour Department’s monthly report on the unemployment rate. The official July jobless rate was 9.4 per cent."