US Number & Unemployment

Jon Economy, Government, Market Commentary

FOR THE RECORD – the 7% number for unemployment is the official number – it is by no means REAL. The real number is in the area of 12% now and will rise to test the 25% level. Here is our old forecast from 2009. It was emphasized then that the rise in unemployment will accelerate from the government sector namely state and local – not federal who can spend whatever they desire.

This post was published at Armstrong Economics on September 16, 2014.