Ilyce Glink Show on WSB Radio: The jobs and unemployment rate for 2013 may be wrong, according to an economist who used to calculate the numbers.
On this week’s Ilyce Glink Show on WSB Radio, Ilyce discussed how the unemployment rate could be inaccurate, according to an economist from a recent article by the Huffington Post.
According to the article, the 7.6 percent unemployment rate that the government keeps touting could be low by three percentage points. An economist who used to calculate the government numbers on unemployment says the official unemployment rate should be around 10.6 percent. Reason being, you need to take into account all of the people on the sidelines who can not get jobs.
Ilyce said it’s also upsetting that the employment population ratio (the percentage of the working-age population that is actually working) is only at 58.7 percent. That is the lowest rate since the early 1980s. So as we start to see recovery, it’s almost as if we are peeling back an onion and there are other problems in the economy that are not being solved, Ilyce said.
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WSB Radio’s Ilyce Glink Show – July 21, 2013
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