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Saturday, August 15, 2020

current unemployment rate is 25 percent

The U.S. Department of labor reported on August 8th that 29.7 million American workers are either on Unemplyment Insurance benefits or have applied and are waiting a decision. The U.S. labor force reached a high of 164.6 million persons in February 2020, so that means that the official unemployment rate is really 18%, and that actual unemployment is probably at least 25% - the official unemployment rate during the Great Depression was 23%.

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