More US Jobless Than Reported
By Stephen Lendman
May 01, 2020 "Information
- Based on how it was calculated
pre-1990s, Shadowstats economist John Williams has the
real US unemployment rate at around 38%, heading higher.
to the Economic
Policy Institute (EPI),
“millions” of jobless US workers aren’t getting benefits
because applications they filed, or were unable to
because of a “buckle(d)” system, weren’t processed.
EPI: “For every
10 people who said they successfully filed for
unemployment benefits during the previous four weeks:
Three to four
additional people tried to apply but could not get
through the system to make a claim.
people did not try to apply because it was too difficult
to do so.”
reality shows that the official US unemployment rate is
evidence that millions of US jobless workers aren’t
getting entitled to benefits.
that up to 13.9 million Americans haven’t filed for
benefits or their applications weren’t processed because
of a clogged system too hard to navigate.
of potential UI (unemployment insurance) applicants are
actually receiving benefits,” said EPI.
official numbers from mid-March through April 23, over
26 million newly unemployed US workers had their UI
another near-14 million Americans laid off or furloughed
aren’t included in official numbers for the above
five-week period, it means up to 41 million US workers
lost jobs since mid-March.
Because of a
dysfunctional US UI application system, EPI estimates
that benefits for America’s newly unemployed since
mid-March may only be going to from “45% to 52%” of
qualified individuals so far.
EPI’s data is
from “a single-question survey (of) 25,000 respondents
through Google Surveys, beginning April 14.”
“The survey was
about 98% complete and had 24,607 respondents as of
It asked: “Did
you apply for unemployment benefits in the last 4
could choose from one of six answers:
“I did not
apply because I did not lose a job.
I did not apply
because I am not eligible.
I did not apply
because it was too difficult.
I tried but my
application was rejected.
I tried but I
could not get through.
The above data
indicate a much more dismal US jobs market reality than
official numbers explain.
Nouriel Roubini explained that COVID-19 arrived when
“(t)he world (was already) drifting into a perfect storm
of financial, political, socioeconomic, and
environmental risks, all of which are now growing even
more acute,” adding:
by the Fed, along with mismanagement by the Obama and
Trump regimes, “made another crisis inevitable.”
“(N)ow that it
has arrived, the risks are growing even more acute.”
recovery occurs this year, a “Greater Depression will
follow (because of mounting public) debts…(large-scale)
defaults…loss of income for many
households…unsustainable private-sector debt…(weakened
demand because of) mass unemployment…downward pressure
on wages…de-globalization,” and other factors.
Washington’s imperial fist make a bad situation worse?
policymakers divert attention from economic duress for
ordinary Americans by waging wars against invented
arrive in the US full-blown on the pretext of protecting
national security at a time when Washington’s only
enemies are invented?
Are the worst
of times ahead? Or will enough fed up Americans no
longer put up with how they’re harmed by the nation’s
governments fail their people, the way things are in the
US, they forfeit the right to rule.
disobedience and other forms of resistance become
essential tactics for change.
The time is now
to go big for a nation safe and fit to live in — polar
opposite how things are now in the US and West.
Do you agree or disagree?
Post your comment here
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