Government statistics are hiding the true unemployment rate.
While the Bureau Labor Statistics says the unemployment rate has been around 7.5 or 7.6 percent in recent months, it's really 14.3 percent.
Why the difference? The commonly cited unemployment number ignores people who want to work but are no longer actively seeking jobs and counts part-time workers as employed even if they'd prefer full-time jobs.
The government statistic called U-6, however, does take into account those groups, people the government calls "marginally attached" to the labor force.
In June the U-6 was 14.3 percent, unemployment worse than in Italy and Ireland, notes the International Business Times. It's almost 3 percentage points higher than the European Union's unemployment rate.
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according to shadowstats, the true rate is approx 23%
ReplyDeletehttp://www.shadowstats.com/alternate_data/unemployment-charts
Thanks, as I remembered a +20 figure and was going to comment, but couldn't remember where I saw it or the name.
DeleteAll over the world, unemployment is the main culprit as to why there are so many malnourished kids and crimes.
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