Quote:
Originally posted by Ironhorse
Colin, the 6% rate only accounts folks who are currently receiving or have recently applied for unemployment. There are many more that simply never apply, some that their unemployment has already run out but many are still unemployed, just not counted. There are many people that gave up looking for work many months ago.
I'm not pulling the 20% out of my ass btw, these statistics came up in many readings I've done, commentary shows, Charlie Rose a few times, not sure if you watch but I find the guests are usally folks in the 'know'
I think you may be looking out your window and you see the sun is shining, birds are chirping, but you are missing the homeless folks righ under your window.
The problem with rich folks is they never realize the transition of the masses from middle class to poverty until it's much too late.
I really hope that you are right and things improve but I am very skeptical.
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If the 6% only accounts for those that you specify (and I think that you are correct)...then it applies for past years as well...so the 6% and those that are not counted would still be relative and it means that things are pretty much normal.