What will the unemployment rate be in fall of 2012?

  • Posted by a hidden member.
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    Jul 13, 2011 12:24 AM GMT
    I'm asking everyone to consult their crystal balls, tea leaves and ouija boards to make a projection of the unemployement rate whenever 2012 election time rolls around. The rate for June was horrible at 9.2% per the official party line, but I think in reality it's closer to 20%.

    Unless some kind of miracle happens such as a massive boost in oil drilling or technological boom, I don't see it getting any better for a long time. Cutting government spending will create more job losses, as well as drawing down the troops in Afghanistan and Iraq. I think the high tech companies will continue to export as many jobs as they can, and when they can. I keep hearing that all that needs to happen is to stimulate growth in the economy and we will have more jobs with workers contributing more to the coffers. I don't even know what it means to "stimulate the economy." Would that be reduce the government regulations and decrease much needed tax revenue for businesses even more?

    To answer my own question -- I think the unemployment rate will be around 15%. We are only in the infancy of this economic downturn.
  • Posted by a hidden member.
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    Jul 13, 2011 1:27 AM GMT
    "under-employment" will bring that figure up closer to 20%.

    The government flat out lies about their numbers and metrics (including real inflation) to keep the panic level down.
  • Webster666

    Posts: 9217

    Jul 13, 2011 4:24 AM GMT
    16%