Posts Tagged ‘ Twenty-Five Percent Unemployment ’

Twenty-Five Percent Unemployment—Hard to Imagine (II)

2497219 twenty five percent silver 3d1 300x225 Twenty Five Percent Unemployment—Hard to Imagine (II)After adjusting for people who were actually working but were counted as unemployed, he found a maximum unemployment rate of 17 percent. This number is still the highest we have had in modern times, but it is certainly not one-fourth of the labor force. How much sense does Darby’s adjustment make?
The argument against the official government statistics is straightforward: The federal government taxed individuals and businesses to pay workers at the WPA and CCC. Had the federal government not levied the taxes to pay these new government employees, the private sector would have had more disposable income, more spending, and higher employment. Whether all of those people would have gotten private sector jobs is impossible to know, but it is clear that the official numbers greatly overstated the true unemployment rate during the Great Depression.

2012
02/07
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bussiness
economy
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Twenty-Five Percent Unemployment—Hard to Imagine (I)

2497219 twenty five percent silver 3d 300x225 Twenty Five Percent Unemployment—Hard to Imagine (I)If you look at official government statistics on the unemployment rate during the Great Depression, you will find that in some statistical series, the rate hit 25 percent—meaning that one of every four Americans who were part of the labor force could not find a job during the depth of the depression. Read more

2012
02/03
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bussiness
economy
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