Patrice Lee Onwuka - New Agenda for Black Women newsmax.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsmax.com Daily Mail and Mail on Sunday newspapers.
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Powell Is Wrong More Stimulus Won t Create Employment zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
Correcting this misclassification and counting those who have left the labor force since last February as unemployed
would boost the unemployment rate to close to 10 percent in January
.”
“It will require a society-wide commitment, with contributions from across government and the private sector.”
I agree with his first point. If you account for those no longer counted as part of the labor force, the real unemployment rate
(more commonly known as the U-6 rate) is near 10%.
However, where I disagree, as we exposed in part one of this discussion, monetary and fiscal supports when they are non-productive, do not create the confidence required for economic growth.