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Unemployment – We’ve Now Got Depression-Level Unemployment) – Washington’s Blog

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The commonly-accepted unemployment figures for the Great Depression are overstated.

Specifically, government workers were counted as unemployed by Stanley Lebergott (the BLS economist who put together the most widely used numbers) … even though gainfully employed and receiving a pay check.

If we’re trying to compare current unemployment figures with the Great Depression, the calculations of economists such as Michael Darby are more accurate.

via Unemployment During the Great Depression Has Been Overstated and Current Unemployment Understated (We’ve Now Got Depression-Level Unemployment) – Washington’s Blog.

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Written by edparnell

November 12, 2011 at 9:41 pm

Posted in Business, News

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