Unemployment rate at 4.4% or 24.4%? The real analytic behind the scene
Peter Oberois
Nov. 3, 2006

The official unemployment rate fell to 4.4%. 92,000 new jobs were created. However an unofficial analytic that tracks not only employment but also underemployment and then normalizes the whole result into an employment index manifests stealth depression. The real unemployment rate is 24.4% not 4.4%.

Te economy is divided. The inherited idle money (so called old money) is doing great. Lower tax, lower wages and very unproductive business environment with little competition for traditional business and very little innovation.

The productive part of the economy has collapsed. Very few people can get the job they deserve when big corporation fires them. They eventually become “consultants’ and live on income supplemented with borrowing against their home and premature 401(k).

Unemployment rate at 4.4% or 24.4%? The real analytic behind the scene
Peter Oberois
The official unemployment rate fell to 4.4%. 92,000 new jobs were created. The real unemployment rate is 24.4% not 4.4%. here is why.
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