Real Unemployment Rate Continues to Rise in Spite of Government’s Phony Statistics Saying it is Falling
Source: Rebel Traders
With the nations unemployment rate having dropped to where it is now at 9.0% the government powers are saying how wonderful it is that it is dropping.
But of course the majority of people who watch their local evening news have no clue what goes into the governments unemployment calculations. They just hear the headline and a 10 second Obama clip saying the economy has turned the corner.
Actually since December 2010 the unemployment rate has been increasing, not decreasing. We know this by examining the reduction in the labor force statistics and how that reduction distorts the top line number reported by the government. Secondly, and perhaps even more reliable is the weekly Gallup poll that tracks the unemployment rate in the United States. This poll is void of all the hocus pocus adjustments the uncle Sam applies to their numbers. There is no birth/death black box, no seasonality adjustments, and so on.
So what is the real employment picture look like as of this moment?
This does not include ‘distressed’ workers, those who are working part time jobs because a full time positions could not be obtained. When we included the distressed workers the unemployment rate is upwards of 16 to 18%. Some have this number up at 20%, but even 16% is bad enough.
Real Unemployment Rate Continues to Rise in Spite of Government’s Phony Statistics Saying it is Falling is a post from: Rebel Traders – Stock Market and Economic Analysis
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