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FRONT PAGE  |  2/20/2017
WEDNESDAY, JAN 22, 2014  |  3 comments  |  1 commentary
Wall Street adviser: Actual unemployment is 37.2%
Don't believe the happy talk coming out of the White House, Federal Reserve and Treasury Department when it comes to the real unemployment rate and the true ‚ÄúMisery Index.‚ÄĚ Because, according to an influential Wall Street advisor, the figures are a fraud.

In a memo to clients provided to Secrets, David John Marotta calculates the actual unemployment rate of those not working at a sky-high 37.2 percent, not the 6.7 percent advertised by the Fed, and the Misery Index at over 14, not the 8 claimed by the government.

Marotta, who recently advised those worried about an imploding economy to get a gun, said that the government isn't being honest in how it calculates those out of the workforce or inflation, the two numbers used to get the Misery Index figure. ...


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News Item1/22/14 7:29 PM
Strat  Find all comments by Strat
The actual unemployement rate is 37.2% ? I suspect the percentage of those who care is much less,jobs,industry and work it's self seems to have been removed form the national discourse....99 weeks have worked their magic I guess.
3

News Item1/22/14 4:02 PM
SteveR  Find all comments by SteveR
Scott McMahan wrote:
Sounds shocking, until you realize he got his number by counting all Americans who are not working. That includes the 30% of the population who are retired and under age 18. When you subtract that from his 40%, you get about the same 10% which includes discouraged workers.
He is using the Labor Participation rate to calculate that figure. That rate does NOT include those too young to be in the workforce, and our LPR is 4% lower today than it was in 2008. So comparing apples to apples, he is arguing the employment climate is worse than 2008, not better
2

News Item1/22/14 10:30 AM
Scott McMahan | Internet  Find all comments by Scott McMahan
Sounds shocking, until you realize he got his number by counting all Americans who are not working. That includes the 30% of the population who are retired and under age 18. When you subtract that from his 40%, you get about the same 10% which includes discouraged workers.
1
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