Unemployment and Washington Post

Harm Bandholz: He put real unemployment above 20 percent, according to The Japan Times. We’re not heading for a recession, massive or minor, and the unemployment rate is not 20 percent, said Harm Bandholz, chief U.S. economist at Uni Credit Research in New York. In a wide-ranging interview with the Washington Post published on Saturday, the billionaire businessman said a combination of high unemployment and an overvalued stock market had set the stage for another economic slump. The official unemployment rate has declined to 5 percent from a peak of 10 percent in October 2009, according to government statistics. Coming off a difficult week on the campaign trail, in which he acknowledged he made a series of missteps, Trump comments to the Washington Post might be some of his most bearish on the economy and financial markets. But a different, broader measure of unemployment that includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment is at 9.8 percent. (news.financializer.com). As reported in the news.