by Jeff Berwick, Dollar Vigilante:
We’ve long held to the old adage that there are lies, damned lies, and government statistics. Our work over the last four years has shown that in every way imaginable.
One of the most egregious is official US government “unemployment numbers”. This number has been what they call “hedonically adjusted” (and what we prefer to call hedonistically adjusted) into pure fiction.
While we grimace at taking any US government numbers at face value, even if you take the U-6 published by the Soviet-esque named “Bureau of Labor Statistics” though, it is currently at 13.7%. Even that though, as shown by Shadowstats.com, is well below how unemployment would have been calculated if it were still calculated the way it was in 1994.
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