Official ‘unemployment’ rate understates true U.S. joblessness

H/t reader M.G.:

“Article on disparity of true joblessness with the current mendacious 5.5% US figures……Who believes these numbers?”

Related info:

Americans Not In The Labor Force Soar To Record 93.2 Million As Participation Rate Drops To February 1978 Levels


Recovery

Official ‘unemployment’ rate understates true U.S. joblessness (Al Jazeera, May 2, 2015):

Discouraged workers, stagnant wages and underemployment mean labor force has less participation than formally indicated

1 thought on “Official ‘unemployment’ rate understates true U.S. joblessness

  1. Americans not in the labor force soar to over 93 million people. We have a total population of 316 million. Allowing for babies, children and the elderly, there are better than one in three Americans unemployed. This is unacceptable, and too many people are suffering it for years………

    The only place worse is the Euro Zone where the figure is one in two.

    MSNBC blaring 5.5% unemployment…….who are they kidding?

    Bloomberg features a carefully rigged market presented as a free market indicator………They don’t dare let the real market ride……everything is on margin. The majority of daily trades are high frequency, where a few greedy gut players step in, buy and sell enormous amounts of securities in less time than one blinks an eye. The key here is SELL…..they never invest, just skim and dump, which used to be illegal when we had a solid market.

    Standard business practice was to take $100 million and leverage it into $100 BILLION…..1000:1 ratio. Over the past couple of years, out of necessity to keep the false game going, they now leverage out the leveraged funds……and I will let you compute the ratio……it is beyond my comprehension…..it is utter madness.

    In China, their markets have tripled in investment over the past couple of quarters. Only one problem……100% of this new investment is on margin………on the cuff, as we used to say. China is in deep trouble, too……

    All other US TV corporate news that isn’t channels fill the airwaves with happy stories about the great economy, sensationalism such as an endless supply of murders and rapes…….and outright obfuscation. The endless coverage of the Baltimore situation with no other information allowed is only the latest example.

    I have been in hospital for the last 18 days, and the TV here is network and awful. Thank goodness for my computer and Netflix…….
    It has been years since I was exposed to network TV. The advent of the DVR made it possible for me to watch all shows at my leisure, and commercials were never considered.

    The commercials all promote junk food, hand held devices and other equally useless stuff. The talking heads promote a Clinton presidency…..but the stories emerging about her self dealing while acting as Secretary of State might throw a huge monkey wrench into the greedy gut game of business as usual.

    Business ISN’T as usual. Bernie Sanders entering the race and breaking all fundraising record in his first day of campaigning ought to tell the greedy guts something. He raised $1.5 million his first day, the average donation was $44.00. People are fed up, one in three unemployment is a stark reality for millions, and all the happy horseshit stories in the world won’t change it.
    Bernie Sanders is the only breath of fresh air in the stale money changing political field I have seen. I think his time may have come because it is no longer business as usual for most Americans.

    For the naysayers who say he is too old, I ask how old is old bag Clinton?
    I don’t ever want to see another bush or Clinton in the white house….and there are millions who agree with me. If the fools run her, they will lose, she is too corrupt and divisive,

    I could rant on, but I am glad to see you up and running again.
    Best to you…..

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