The Collapsing US Economy Paul Craig Roberts
John Williams (shadowstats.com) continues to measure the long-term discouraged with the official methodology of that time, and when these unemployed are included, the US rate of unemployment as of July 2015 is 23%. . . . An unemployment rate of 23% gives economic recovery a new meaning. It has been eighty-five years since the Great Depression, and the US economy is in economic recovery with an unemployment rate close to that of the Great Depression.
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The ShadowStats Alternate Unemployment Rate for July 2015 is 23.0%
The U-3 unemployment rate is the monthly headline number (5%). The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment (11%). The seasonally-adjusted SGS Alternate Unemployment Rate for July 2015 is 23.0%.
An idea whose time has come … and it will.
Why ‘unconditional basic income for all’ fails the ‘splutter test’ but would liberate the world
Under the scheme we will still work, for people are productive and want more than a basic living. But we are less likely to remain in exploitative or soul-destroying jobs. Unpleasant jobs would tend to pay more, and glamorous jobs less. With the removal of the benefit trap, people are more inclined to experiment entrepreneurially, or invest more time in their hobbies. Some people would choose to work less, especially when raising children or when taking time off to study. Zero-hour workfare contracts could go and fuck themselves.