Unemployment Rate Now 7.7%

[JohnyMac]

Although I am happy to see the official unemployment rate drop, the unofficial rate is still in the middle to high teens.

There are so many folks who have ran out of unemployment benefits and can't find a job. So they are living off of saving's, retirement and/or working under the table. So the rate is bogus.

Bolstered by a healthier private sector, the United States economy gained 236,000 jobs in February, well above what had been expected, while the unemployment rate fell to 7.7 percent, its lowest level since December 2008...

http://www.nytimes.com/2013/03/09/business/economy/us-added-236000-jobs-in-february.html?_r=0

My wife and I have decided to drop out since I can not find a job that even comes close to my work history and/ or education. Doesn't really matter as nobody wants me do to my age. :-)

The plan is to sell our house in RI and move to the BOL. Plant enough veggies for us and maybe some extra for sale. Then for me to get my CDL. The fracking industry up here is desperate for water truck drivers - Pick up water from the river and than deliver to the drill sites. Depending on what gas company and experience; the range for drivers is $25- to $45- per hour with guaranteed overtime and 100% medical insurance. 

Now what do I do with a 30' blue water sailboat and a 19' open console lobster boat?

[APX808]

I don't know US reality in depth, but I can tell you that those numbers are always bullshit.

Here they say we have 8% inflation but my wallet and private studies say the inflation is around 28%
in the last census the gov asked the people if they had made at least a quick job in the last month, and if they said yes they were considered employed.

As private consultants started releasing their own numbers because of the utter bullshit the gov was saying, the gov decided to initiate legal actions against the consultants, so a group of senators started doing their own numbers being protected by their legislative immunity.

Good luck with your plan Johny, not having a work must be terrible.

[CrystalHunter1989]

Don't forget that in Obama's first term, Bernanke essentially cooked the books by omitting millions of people who were unemployed for a certain length of time. They didn't count them anymore, so the numbers have always been fixed in my eyes.

Another good indicator is that many places still won't hire full time.

[JohnyMac]

And then there is the under employed. People who use to do X but now to survive, now work at a min-wage job...Or 2.