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Federal Reserve Head : Unemployment is 16%

August 27, 2009

Recently we had a discussion where two individuals disagreed with us stating that the real unemployment is whatever the U.S. Bureau of Labor Statistics pushes out is the official rate.

To be fair, the U.S. Bureau of Labor Statistics uses several measures, from U-1 to the U-6 with the official rate being the U-3 of just under 10% unemployment currently.

This is where it got interesting, yesterday the Atlanta head of the Federal Reserve stated the same thing we did. That the unemployment rate is 16.x percent.

In other words, what our thoughts were is identical to what some ranking economists in the Federal Reserve feel as well.

So Jon and Daniel Reeves, how do you defend yourself now? Or you cant?

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Written by TheFounder · Filed Under Advertising Agency News 


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