Unemployment Numbers That Lie

Monthly government unemployment numbers often have little to do with reality. If corporations spewed out such faulty figures they would be hauled off to court and officials jailed.

The media emphasis usually goes along with the official government charade by placing a spin on what you are supposed to make of the raw figures, depending on the political party they favor.

One illustration was the administration’s creation of the “jobs saved” number. When actual “job lost” numbers are the norm. Jobs saved were merely estimates of the “coulda and if” variety, that could not be truly measured.

But worse, unemployment statistics leave out those who have given up looking for work, or are counting part-timers who cannot find full-time work. 

Right now the government is reporting unemployment of about 7% when it’s well near Great Depression levels. And for minorities, it is running much higher.  (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)