Southern California economic guru Jack Kaiser said Wednesday night the true unemployment rate in Los Angeles County stands at 20 percent.
While the official unemployment rate for Los Angeles County is 12 percent, Kaiser said recent research indicates the real and true rate of unemployment is 20 percent.
Kaiser, a widely respected expert when it comes to the economy in Southern California, that the 20 percent number is calculated by adding the official rate with other factors like people who have given up looking for work and others who do not qualify for benefits.
Meanwhile, about 300 people gathered at the Pink Taco in Century City Wednesday night at a Pink Slip Party where the unemployed got a chance to rub elbows with people in the market to hire new workers.
The next party will be held April 11th at Staples Center 5-7 p.m. before the Clippers play the Trail Blazers. The cost is $15. Go to www.pinkslippartyLA.com for more details.
