Tuesday, July 10, 2012

Unemployment and reality

Peter takes the graph and expands in detail. Lies, Damn Lies, and Statistics..... and somebody is using 'Statistics' to lie to all of us. Peter explains how.

"You can see that the proportion of employed persons as a percentage of the total US population has dropped precipitously since the start of the recession in 2008. It's never recovered. What's happened in terms of the unemployment rate is that most of those who've lost their jobs have simply been officially erased from the ranks of the unemployed. If you haven't applied for a job recently, or have given up trying, or you're underemployed and desperately looking for more work to earn more money to make ends meet, as far as the US government is concerned, you don't count. You're not considered 'unemployed'. The broader measure of unemployment, known as U6, does take such people into account - and it's showing an unemployment rate of about 15%, not 8.2%!"

Read the rest at Bayou Renaissance Man.

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