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.
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.