You look at unemployment statistics (pictured here) and things look bad. Fact is, things are probably worse than they look. You've got official numbers at 6.7% unemployment currently. But there are a pick-up truck load of folks who aren't part of that equation and are nevertheless basically unemployed.
- Freelancers and contractors who got cut and are back to prospecting.
- Full-time workers who are now doing shitty part time jobs.
- People who WERE on unemployment but ran out of time.
- People who are self-employed service workers of some kind (consultants) and are just not picking up jobs.
You include those people and you most definitely are in the double digits.
You are in the Holy-Shit % range. You are in the negative spiral range. You are in the fed rate cut to the bone range. But you aren't quite in this range...