The media and government are reporting that 5 million Americans are now on unemployment, and that the Unemployment rate is up sharply. Of course, to get the real story you have to go to shadowstats.com, where they calculate unemployment the way the government did in other troubled times.
As you can see, according to the traditional method of calculation, (SGS Alternate)the unemployment rate is probably near or at 19-20%, which is roughly as bad as it was during the difficult days of the 1930s.
One can only guess how bad the numbers will get, but at least there are some reliable resources to compare apples to apples and oranges to oranges.
Check out John William's Shadow Government Statistics for more. A great site for those that value truth.
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