Shadowstats.com is a well-known and reputable source. In fact, Trump referred to his numbers when Obama was president.
Yes, things have improved since Trump became president, cut regulations, and got some tax cuts through.
But it is a misstatement to claim that things are better than ever, than they’ve been in 40 years, etc.
And that inflation number should be taken very seriously. It’s been going on for some time and has really wiped out earnings for our lower-end workers.
Consider these real numbers and you see how much worse low-skill illegal and legal immigration has been for those workers. Yet, with Trump’s blessing, the Congress is poised to pass the biggest amnesty bill in history as early as Monday next week—done under cover of this big news week, but again with the WH’s blessing.
I’m not saying the website is unreliable. It’s the way unemployment is calculated now and for a number of years. The below is from this website:
In May 2018, the real unemployment rate (U-6) was 7.6 percent. It’s double the widely reported unemployment rate (U-3) of 3.8 percent. Here’s how to calculate both.
Step 1. Calculate the official unemployment rate (U-3).
U-3 = 6.065 million unemployed workers / 161.539 million in the labor force = 3.8 percent.
Step 2. Add in marginally attached workers. There were 1.455 million people who were marginally attached to the labor force. Add this to both the number of unemployed and the labor force.
U-5 = (6.065 million + 1.455 million) / (161.539 million + 1.455 million) = 7.520 million / 162.994 million = 4.6 percent.
Step 3. Add in part-time workers. There were 4.948 million people who were working part-time but would prefer full-time work. Add them to the unemployed with marginal workers. They’re already in the labor force.
U-6 = (7.520 million + 4.948 million) / (162.994 million) = 12.468 million / 162.994 million = 7.6 percent. (Source: “Table A-15,” Bureau of Labor Statistics.)