I’ve written before on the dubious validity of the official unemployment statistics because of issues concerning how “unemployment” is counted. A high-ranking official with the Federal Reserve has now spoken publicly of this phenomenon and estimated that, if the statistical contrivances are taken into account, the “real” unemployment rate is not the official 9.4 percent rate, but rather 16 percent. That reality indicates that it is going to take much longer for the economy to dig its way out of the recession than many are forecasting.
All of which leads to a simple question: if the “real” unemployment rate is 16 percent, why isn’t that the rate the federal government is reporting to its citizens? Does our government really think that we are so brittle that we cannot bear to hear the truth, or that we are so divorced from reality that chronic undercounting by the government will convince us that things are better than our personal experiences demonstrate they are?
Come on, you know why they report the lower rate: It’s all about information management and spin control.
I no longer pay attention to anything they say about the economy or unemployment. It’s irrelevant to me.
Bob, you may want to look into the statement by the high ranking Federal Reserve official, but its my understanding that the 16% he is suggesting includes individuals who were fully employed at one time, but now working part-time, they are not necessarily unemployed.
My one neighbor our from india he works for the government and the other neighbor on the other side of me is nurse for a school and i am can;t find a job. And the other neighbors have husband who our home while the wife goes to work. I can t seem to get anywhere but they alway can get there homes fix up. It seems like the most jobs our the govenment or schools today,