I was having an economic discussion with my father this past weekend and we got on to the topic of the unemployment rate. I remember hearing John Sumser in talk last year state that having a national unemployment number is pointless. Unemployment is local – it depends upon the region and, even more, the city in which you are employed. I agree completely with that premise. The current national unemployment number is listed at 9.8%, but there is much discussion about what the real number is. I have heard that it is closer to 16% if you factor in the people who have stopped looking and/or had their unemployment benefits… Read More
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