I do not have the platform or credibility (I am not an economist) on such a topic. But, the weekly unemployment numbers provided every Thursday are simply false and terribly misleading.
Professor Tooze could you write an Op-Ed or something on your sub-stack page about this topic?
I do not have the platform or credibility (I am not an economist) on such a topic. But, the weekly unemployment numbers provided every Thursday are simply false and terribly misleading.
Professor Tooze could you write an Op-Ed or something on your sub-stack page about this topic?
Today, CNBC published an article, written by Jeff Cox, announcing that 730,000 American applied for State Unemployment benefits. Of course, these are Great Depression-type numbers.
Yet, Cox makes it sound like unemployment has dropped "sharply". However, this extraordinarily high level of National Unemployment has existed for a calendar year - so far. Unbelievable!
The current unemployment situation is much worse - statistically - than in 2008-2009!
Problem: The corporate media NEVER reports those who apply for benefits through the Pandemic Unemployment Aid (PUA) program.
Last week, from 13 Feb thru 20 Feb, approximately 964,000 applied for PUA benefits.
Altogether, 1.694 million Americans have applied for either State Unemployment assistance or PUA benefits.
I am not a MIT graduate, but that is a hell of a lot of unemployed people!
Mark Twain once stated when asked about the importance of government statistics, "there are Lies, Damn Lies and Statistics".
I feel Twain's acute observation is rather appropriate for describing the current unemployment crisis in America.
Professor, how can we fix a 'crisis' situation in America if we can not be honest about its true dimensions?
Good Morning Professor Tooze:
I do not have the platform or credibility (I am not an economist) on such a topic. But, the weekly unemployment numbers provided every Thursday are simply false and terribly misleading.
Professor Tooze could you write an Op-Ed or something on your sub-stack page about this topic?
Today, CNBC published an article, written by Jeff Cox, announcing that 730,000 American applied for State Unemployment benefits. Of course, these are Great Depression-type numbers.
Yet, Cox makes it sound like unemployment has dropped "sharply". However, this extraordinarily high level of National Unemployment has existed for a calendar year - so far. Unbelievable!
The current unemployment situation is much worse - statistically - than in 2008-2009!
Problem: The corporate media NEVER reports those who apply for benefits through the Pandemic Unemployment Aid (PUA) program.
Last week, from 13 Feb thru 20 Feb, approximately 964,000 applied for PUA benefits.
Altogether, 1.694 million Americans have applied for either State Unemployment assistance or PUA benefits.
I am not a MIT graduate, but that is a hell of a lot of unemployed people!
Mark Twain once stated when asked about the importance of government statistics, "there are Lies, Damn Lies and Statistics".
I feel Twain's acute observation is rather appropriate for describing the current unemployment crisis in America.
Professor, how can we fix a 'crisis' situation in America if we can not be honest about its true dimensions?
Professor Tooze, thank you for your time.
Professor Randall Doyle