The Feds are claiming the current unemployment rate is 9.4%. Several articles have popped up in the last few months contesting the claim of 9.4% unemployment. These articles are stating the real percentage is closer to 16% and could be as high as 20% nationally. Finally, Detroit is once again number one for something; and an unemployment rate of 28.9% is NOT something to be proud of.
Below you will find three articles, the first two relate to the national number, while the latter article is just the city limits of Detroit.
John Miller wrote in the
Dollar and Sense article that the true adjusted rate is 16.4%.
Anthony Mirhaydari's article on
MSN money states the unemployment rate to be closer to 20%.
The
Detroit Free Press has a strong and viable number for the City of Detroit's percentage to be at 28.9%
One last note, I was surprised the Detroit unemployment number is not closer to a 1/3 of the population.
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28.9% is a LOT of people! That probably doesn't even include the homeless and the people working part-time at the corner 7-11 store. 1 in 3 or 1 in 4 adults not working is pretty remarkable.
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