9.5 million unemployed or 14 million?

Regardless of which figure is the most accurate, this represents a very narrow measure which vastly understates the true state of unemployment. In a country with a potential workforce that numbers in the hundreds of millions and taking into account John Williams rate of 23% either unemployed or underemployed, paints a bleak picture of at least 40-50 million poor souls in dire straights. Crossing my fingers 2010 won't be half as bad as Sinclair thinks as an economy already knocked down to the ground takes a kick to the gut from the next wave of residential mortgage resets in the prime and alt-a arena.

ESL

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