The Truth About The Employment Numbers – Nearly 102 Million Working Age Americans Do Not Have A Job Right Now
Michael Snyder
TheEconomicCollapseBlog.com
June 2, 2018
Don’t get too excited about the “good employment numbers” that you are hearing about from the mainstream media. The truth is that they actually aren’t very good at all. For years, the federal government has been taking numbers out of one category and putting them into another category and calling it “progress”, and in this article we will break down exactly what has been happening. We are being told that the U.S. unemployment rate has fallen to “3.8 percent”, which is supposedly the lowest that it has been “in nearly 50 years”. If these were honest numbers that would be great news. But these are not honest numbers…
Let’s take this one step at a time, and we are going to use the Federal Reserve’s own numbers.
According to the Fed, there were 6,065,000 working age Americans unemployed in May.
That would be an excellent number if it was an honest number. But of course that number does not tell the whole story.
We also have to factor in the other category of working age Americans that are not currently employed. They are not considered to be “officially unemployed” because they are considered to be “not in the labor force”.
According to the Federal Reserve, 95,915,000 working age Americans were “not in the labor force” in May.
That is an all-time record high, and this is how the federal government has been making the employment numbers look so good. The number of Americans that are “officially unemployed” keeps going down, and the number of Americans “not in the labor force” keeps going up.
When you add 6,065,000 and 95,915,000 together, you come up with a grand total of 101,980,000 working age Americans that do not have a job right now.
So we essentially have 102 million working age Americans that are not employed, and that is the same level that we had four years ago.
And back during the peak of the last recession, the number of working age Americans without a job never surpassed the 100 million mark.
That means that there are more working age Americans without a job right now than there was at any point during the last recession.
The Rest…HERE
