HERE’S THE REAL UNEMPLOYMENT RATE
Any rate drop is from ‘discouraged workers eliminated’ from job accounting
JEROME R. CORSI
Aug 7, 2013
NEW YORK – Are the reports of an Obama economic recovery based on the economy creating mostly part-time jobs and on manipulated government statistics that report an artificially low unemployment number?
According to John Williams, an economist known for asserting the government reports manipulated “shadow statistics” of economic data for political purposes, the real unemployment rate for July 2013 was 23.3 percent, not the 7.4 percent reported by the Bureau of Labor Statistics.
Meanwhile, the House Ways and Means Committee reported Monday that seven of every eight new employees under Obama have been part-time.
Williams, editor of the Shadow Government Statistics website, wrote that the Bureau of Labor Statistics report indicating July unemployment dropped from 7.6 percent in June to 7.4 percent in July was “meaningless.”
“The broad economic outlook has not changed, despite the heavily-distorted numbers that continue to be published by the BLS,” Williams wrote. “The unemployment rates have not dropped from peak levels due to a surge in hiring; instead, they generally have dropped because of discouraged workers being eliminated from headline labor-force accounting.”
Manipulated unemployment rates