China’s Real Unemployment Rate Is Three Times Higher Than The Offical Number…(Get Ready For War…)
by Tyler Durden
ZeroHedge.com
Jun 6, 2016
When it comes to fake data, China is in a class of its own: between fabricated export and import numbers (where hundreds of billion in capital flight are hidden), to massaged, goalseeked GDP “data”, Chinese economic reporting has become a laughing stock across the developed world. Just last night, we showed a Goldman analysis according to which China was also misrepresenting its broadest credit aggregate, Total Social Financing, by hundreds of billions if not more as it was not accounting for shadow banking flows that did not end up in the economy.
And now, based on a new report by Fathom Consulting, it appears that China is also dramatically misreporting what may be the one most critical for social stability metric, its unemployment rate, which when stripped away of the political propaganda, is more than three times greater than the officially reported rate.
According to Fathom, China’s underemployment Indicator has tripled to 12.9% since 2012 even while the official jobless rate has hovered near 4% for five years.
The Rest…HERE
