Posted on October 24, 2010

"60 Minutes": The Real Unemployment Rate Is 17%

CBS: "The national unemployment rate of 9.5% percent sounds incredibly high and of course, it is. But, it doesn't nearly capture the depth of the trouble. It doesn't count the people who've seen their hours cut to part-time, it doesn't count the people who've quit looking for work. If you add all of that together, the unemployed and the underemployed, it's not 9.5% percent, it's 17% and here in California it's 22%."