Skip to site content
The Show

Understanding Unemployment

Money-Guy 02-12-2010

Today’s show isn’t exactly one of those that gives you a warm and fuzzy feeling inside. The topic is, however, one of those that is a necessary evil and is a very real issue that needs to be addressed. The unemployment rate is, and has been, one of those statistics that the mainstream media has inundated us with. Considering the gravity of what it measures, it is understandable why so much attention has been given to this piece of data.

In today’s show I want to walk you through a wonderful article titled Unemployment in Uncharted Territory. This article explains the current state of unemployment in the United States and the current efforts being made to combat this overwhelming burden. Particularly, I like how this article explains how unemployment is measured and the variying ranges depending on definition (U-1 to U-6). If you’ve never heard these terms, I walk you through what each of them are and how they are calculated. Even more than this, however, I appreciate how the author goes on to explain the implications of the current and projected unemployment and how this situation is affecting and will affect the country in the short to intermediate term.

This article coupled with a listener email I share are what spurred me to cover this topic. In the email, this listener asks:

“…How exactly is that debt [the federal deficit] going to affect future generations? What will they face besides super-high tax rates? What could I do today to provide my grandchildren with some future relief?…”

I feel that all three of these are very reasonable and understandable concerns. By analyzing the unemployment article and throwing in some personal insight, I hope I can shed some light on how to deal with these issues.

You’ll hear Bo and I reference some research we did prior to publishing this show. Below are some numbers for you to use as reference:

Year          US Population                  Federal Deficit                  Amount of Debt per Person

2005           2.96 million                             $4.7 trillion                                    $15,900

2006           2.98 million                             $4.9 trillion                                    $16,400

2007           3.01 million                             $5.1 trillion                                    $17,000

2008           3.04 million                             $6.4 trillion                                    $21,000

2009           3.07 million                             $7.8 trillion                                    $25,400

As you listen to the show, I will attempt to explain exactly what these numbers mean and why they should be important to you.

It isn’t all “doom and gloom”, though. To close out the show, I try to end it on a high note and explain some of the exciting things that could happen going forward and why now might be the best time ever for you to really change your life for the better! If you have any thoughts, please feel free to share them below.

Enjoy the Show?

Where You Can Watch and Listen:

Subscribe on these platforms or wherever you listen to podcasts for new episodes every Friday, live streams every Tuesday at 10am CT, and new highlight clips throughout the week.

Related Content

Free Resources

Financial Order of Operations®: Maximize Your Army of Dollar Bills!

Here are the 9 steps you’ve been waiting for Building wealth is simple when you know what to do and…

View Resource

Wealth Multiplier By Age

How much to save every month to become a millionaire.

View Resource

Car Buying Checklist

Here’s how to buy a dependable car that won’t break the bank.

View Resource

Articles

How To Pay Off Debt the Right Way

, , ,

Read More

Exclusive Sneak Peek of Millionaire Mission by Brian Preston

, ,

Read More

At Age 50, Did Brian Pay Off His Mortgage or Does He Still Have a Mortgage?

, ,

Read More

Financial FAQs

Courses & Tools

How about more sense and more money?

Check for blindspots and shift into the financial fast-lane. Join a community of like minded Financial Mutants as we accelerate our wealth building process and have fun while doing it.

https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-book.png

Millionaire Mission (Brian’s Book)

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-math.png

Know Your Number Course

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-pencil.png

The Money Guy Net Worth Tool

Buy Now

Recent Episodes

It's like finding some change in the couch cushions.

Watch or listen every week to learn and apply financial strategies to grow your wealth and live your best life.

LIVE ASK WifeWorkLonger

Should I Make My Wife Work Longer?

Watch Now
FULL HowToBecomeAMillionaire B

How to Become a Millionaire By Age (2024 Edition)

Watch Now
Laid off

I Just Got Laid Off! What Now?

Watch Now