Are Obama’s unemployment numbers even higher than announced?

According to a very well researched and documented article – this is the case. Mish claims that they missed the mark by at least 2.5 million. So the total unemployment number is not 6.8 million but really closer to 9.4 million. And those are just the ones making unemployment claims. The real number number could actually be higher. Typical government monkeying with the numbers to try and make things look better than they are. I believe this would also put the real unemployment number at about 13% right now.

How’s that Obamanomic economic stimulus working out now?

You can and should read the entire article at Mish’s Global Economic Trend Analysis. It is an excellent economic blog and I learn a lot by reading his articles.

Adding 2.519 million from the above chart to 6.883 million from the second chart the current real total (assuming nothing else is missing) the current number receiving unemployment benefits is 9.4 million.

I am unsure how Federal Employees, Newly discharged Veterans, the Railroad Retirement Borad, and especially the 346,559 Extended Benefit numbers fit into the EUC 2008 program, but I suspect all those numbers need to be added in as well, making the true count still higher.

With that backdrop, here are some custom created charts courtesy of Chris Puplava at Financial Sense, based on my request. The charts show the effect of the EUC program over time.


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One Response to Are Obama’s unemployment numbers even higher than announced?

  1. […] watch, they will go up in the revised figures as they always do. The real unemployment number is closer to 15%. I think this is a sign he is getting desperate to reach for some kind of improvement in the […]

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