May 19, 2024

The Real Unemployment Rate Is At Depression Levels

need-workAnyone who delves into the details of the monthly unemployment rate issued by the Bureau of Labor Statistics knows the truth about the real level of unemployment in the U.S.  The government numbers on unemployment are grossly distorted since they do not include millions of long-term discouraged workers, the under-employed and anyone who has not looked for a job in the past four weeks  Рthese people simply disappear from the government stats on the unemployed.

The real unemployment rate, according to Jerome Corsi, a Harvard Ph.D., in an interview with WND Money, is a shocking 23%.

The real unemployment rate for December 2012 is closer to 23 percent, not the 7.8 percent reported by the Bureau of Labor Statistics, according to economist John Williams.

Williams, author of the Shadow Government Statistics website, argues that the federal government manipulates the reporting of key economic data for political purposes, using methodologies that tend to mask bad news.

Williams believes that his ShadowStats Alternative Unemployment measure most closely mirrors common experience.

Speak Your Mind