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Not sure how this applies to EDD, but I thought you would find this pertinent and interesting.
article about unemployment statistics inaccuracy:
http://seekingalpha.com/article/117296-true-unemployment-rate-is-not-reflected-in-government-numbers
Yes Mel it is true that the reported unemployment levels are not completely accurate. They do not account for people who are not looking. Unemployment is also a lagging indicator of economic recovery so even if it is higher than stated, it does not necessarily signal what is to come, but rather what we have already been seeing.
Leading indicators such as stocks, building permits, average weekly manufacturing hours, and others are up for the third straight month.
“The Conference Board LEI for the U.S. has risen for three consecutive months now, after having fallen steadily since reaching a peak in July 2007. With these large and widespread gains, its six month growth has picked up to the highest rate since the first quarter of 2006. Meanwhile, The Conference Board CEI for the U.S., measuring current economic activity, remains on a downtrend, but the pace of its decline has moderated somewhat in recent months. All in all, the behavior of the composite indexes suggest that the recession will continue to ease and that the economy may begin to recover in the near term. ”
http://www.conference-board.org/pdf_free/economics/bci/lateness.pdf