It looks like the biggest event that impacted the monthly unemployment figure was the 600k people who gave up trying to find a job. How can that be construed as good news? Does giving up mean that they committed suicide or are they still unemployed?
What is the REAL unemployment rate if we reverse 18 months of this sleight of hand?
We get things like families merging under one roof to economize, and illegales going back to Mexico.
My best estimate, assuming that the Bureau of Labor Statistics’ employment-population ratio is not horribly manipulated, is 24 per cent unemployment. This 24 percent includes professional welfare recipients, who presumably would seek a job if they lost their present means of support (government welfare benefits) and jobs actually existed.