Unemployment vs Jobless Rate

Yesterday’s market surged on the news of only 20.5 Million jobs were lost thanks to the CoronaHoax shutdown.

Why was this good news?

The boyz were anticipating 22 million.

So, according to these numbers the unemployment rate is now at 14.7% of the work force.

Wait!

Last week you said the numbers reported were 33 Million jobless but in reality, more like 50 Million.

Are you confused yet?

Don’t worry government and Wall Street numbers are designed to confuse you.

Let’s clarify this In Plain English.

The Unemployment Rate is the number of people in the work force divided by the number of people unemployed.  If you’ve given up on looking for work, you’re NOT counted in the Unemployment RATE.

The Jobless claims are not to be confused with people who receive unemployment benefits.

So, 30 Million jobless numbers (again we’re saying it’s 50 Million because they’re not counting PART TIME workers) are more indicative of how many people are just flat out not working.

Again, why is this supposed to be good?

The banksters are quick to point out that – compared to the Great Depression – we’re not doing so badly…see chart below:

Unemployment rate during the depression

The chart shows that after the 1929 crash we went from 2.2% unemployment to 25.59% unemployment in about 3 ½ years.  It also shows that we went to 19.10% in just over 2 years.

Compare that to the boyz saying that we’re now officially at 14.7%, which only took TWO MONTHS, and you’re looking at an entirely different story.

Again, we’ll argue that the truth is we’re already in the neighborhood of 27-30% jobless, but let’s stick with their numbers.

14.7% in two months is mind-numbing.

Why?

It doesn’t take into account the tsunami of bankruptcies that will show up in the next 3-6 months which is more likely to compound the unemployment/jobless numbers.

By then we’ll be saying “Welcome to the GATES Depression.”

The damage to the world economy will eventually show that the CoronaHoax caused more harm than any other event in history.

The question remains, “How are you prepared to deal with it?”

The good news is the biggest fortunes in history are made when the markets are at their worst.

Become a member of our “…In Plain English” group and learn how to prosper AND thrive in Turbulent Times.