[lbo-talk] Roubini

Patrick Bond pbond at mail.ngo.za
Tue Feb 17 08:31:55 PST 2009


Doug, as you see below, Cockburn says there are major changes in unemployment beancounting...

Patrick Bond wrote:
> Doug Henwood wrote:
>>> Wasn't that # constructed rather differently back then?
>> Not really, no.

http://www.counterpunch.org/cockburn02132009.html

Every president since Reagan, particularly Clinton, has jimmied the unemployment criteria to produce an undercount. The actual number for the two months is nearer one and three quarter million. The actual total unemployment rate, according to statistician John Williams, by pre-Reagan criteria, rose to 18 per cent in January, from 17.5 per cent in December.



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