Many people are unaware of the false figures that official unemployment rates represent. The media hardly ever touches on this sore spot. Nevertheless, recently the big lies of statistics and official unemployment figures begin to get mainstream coverage:
From Washington Post:
This morning’s news that U.S. unemployment has hit 13.7 million, pushing the rate to 8.9 percent, tells only half the story of this recession.
The total number of Americans who are not working full-time but ought to be is actually about 22 million, or 15.8 percent, according to the Bureau of Labor Statistics.
Who are those other 8.3 million Americans? Call them the unofficially unemployed.
As The Ticker points out each time the Bureau releases the monthly unemployment figure, it does not include many out-of-work Americans.
Fact is countless countries around the world operate with such “false methods of accounting”. Are we delusional or just blind? Is it all wishful thinking or just another way of burying one’s head in the sand?
Related articles: