I don't enough to vouch for the accuracy of this but it echoes what I have always read about the fake unemeployment numbers. If this is accurate I believe the numbers below would indicate we are in a great depression. John, you mentioned the economy to me...I wonder if the cliff, anti gun rhetoric and debt ceiling are keeping the attention off of a sinking economy.
http://www.wnd.com/2013/01/heres-the-real-unemployment-rate/
NEW YORK – The real unemployment rate for December 2012 is closer to 23 percent, not the 7.8 percent reported by the Bureau of Labor Statistics, according to economist John Williams.
Williams, author of the Shadow Government Statistics website, argues that the federal government manipulates the reporting of key economic data for political purposes, using methodologies that tend to mask bad news.
In the BLS news release Jan. 4, the unemployment rate for December 2012 was reported to have remained unchanged at 7.8 percent.
Williams recreates a ShadowStats Alternative unemployment rate reflecting methodology that includes the “long-term discouraged workers” that the Bureau of Labor Statistics removed in 1994 under the Clinton administration.
The BLS publishes six levels of unemployment, but only the headline U3 unemployment rate gets the press. The headline number does not count “discouraged” unemployed workers who have not looked for work in the past four weeks because they believe no jobs are available.
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Williams has demonstrated that it takes an expert to truly decipher BLS unemployment statistics. For instance, in Table A-15, titled “Alternative measures of labor underutilization,” the BLS reports what is known as “U6 unemployment.”
The U6 unemployment rate is the BLS’s broadest measure. It includes those marginally attached to the labor force and the “under-employed,” those who have accepted part-time jobs when they are really looking for full-time employment. Also included are short-term discouraged workers, those who have not looked for work in the last year because there are no jobs to be had.
Since 1994, however, the long-term discouraged workers, those who have been discouraged for more than one year, have been excluded from all government data.
While the BLS was reporting seasonally adjusted headline unemployment in December 2012 was only 7.8 percent, it was also reporting the broader U6 seasonally adjusted unemployment in December 2012 was 14.4 percent.
“To the extent that there is any significance in the monthly reporting,” he said, “it is that the economy is not in recovery, and that unemployment has made a new high, at a level that rivals any other downturn of the post-Great Depression era.”
The only measure BLS reports to the public as the official monthly unemployment rate is the headline, seasonally adjusted U3 number.