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Unemployment figures are deceptive

March 5, 2011

The link below will take you to an article and video by Rick Santelli, famous as the starter of the protests against overspending and excessive debt.

But the key point is this – our figures we see in the paper are deceptive. Unemployment is at least 14.2% just by using the governments own data to tell the whole story.

4.4% of our labor force just disappeared

Why? Because what the the numbers don’t show. The facts are about 64% of those who work or want to work actually have jobs. This compares to a figure of 67% in late 2008. This is a hidden disaster – 4.4% of our labor force has just disappeared (3/67), it’s gone.  And it makes no sense that such a large number of our labor force no longer wants to work in such a short time.

This alone means our more accurate unemployment, first tier calculation, shold be about 9.8% plus 4.4% or 14.2% – not the number you see.


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