LayoffBlog.com

January 9, 2009

By the standards of the 1930s, today’s jobless rate is 16.5%

[I]f unemployment were still tallied the way it was in the 1930s, today’s jobless rate would be closer to 16.5 percent — more than double the stated rate.

Under President Lyndon Johnson, the government decided individuals who had stopped looking for work for more than a year were no longer part of the labor force. This dramatically decreased the jobless rate reported by the government.

Source: Reuters

2 Comments »

  1. The current jobless rate is the same as it was in the early 1990s. So why arent we hearing the same WHINING that we’re hearing today about how its “so much like the 1930’s”? Stop the whining. people are sick and tired of the damn whining already. This nation is full of pussies.

    Comment by Anthony — January 9, 2009 @ 9:26 am | Reply

  2. Well, it isn’t quite like the 30s yet – back then the unemployment rate was 25%.

    Comment by 7macaw — January 9, 2009 @ 12:44 pm | Reply


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