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By Daniel at 5 June, 2009, 5:14 pm
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- SGS - Alternate Unemployment now at 20.5%
- May Jobs Loss Was About 538,000 Net of Biases
- Versus 345,000 Official Decline
- Birth-Death Model Upside Bias Increased by 27%
- Annual Payroll Decline Deepened to 4.0%
The Bureau of Labor Statistics (BLS) released a “mixed” report of U.S. employment/unemployment conditions in May, with a better-than-expected 345,000 drop in May payrolls, which appeared to be aimed at supporting “the recession is over” hype, but a worse-than-expected rise in unemployment to 9.6% told a different story.
The recession continues to deepen. It is not over and my broad outlook has not changed - The ShadowStats Team
Source
http://www.shadowstats.com/alternate_data
Official US BLS U-6 unemployment rate is now at 16.4%
http://www.bls.gov/news.release/empsit.t12.htm
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