David Rosenberg's Explanation Why The Real Unemployment Rate (U-3) Is 12%

by Tyler Durden
03/04/2011 11:47 -0500
106 comments

David RosenbergDouble DipGross Domestic ProductPersonal IncomeReal Unemployment RateRealityRosenbergUnemployment

Pretty much precisely what we noted earlier today: "A couple of behind-the-scene facts: from October to February, an epic 700k people have left the work force. http://www.zerohedge.com/article/labor- ... ent-112000 If you actually adjust for the fact that the labour force participation rate has plunged this cycle to a 27-year low the unemployment would be sitting at 12% today. Moreover the employment-to-population ratio — the so-called “employment rateâ€