The only problem with these figures are the deadly combination of ‘reality’, ’government manipulation’, ‘wishful thinking’, the redefining of terms, and of course good old fashioned “LYING” . The real number is 15.6% when you add in those who say to heck with it and stopped looking. The number for long term discouraged workers is now slightly north of22% …who do these people thinki they are going to fool with a number like 8.6% which they got by including P/T workers who worked at least 1 hour per week! Enough Government…stop lying to us!
Let’s take a quick look at reality:
“The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.
The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.”
WHEN YOU USE THE SAME DEFINITIONS AND SAME FORMULA FOR MEASURING UNEMPOYMENT WE HAVE BEEN USING SINCE THE DAWN OF MAN (OK NOT THE DAWN OF MAN BUT YOU GET MY POINT) THIS IS WHAT YOU GET FOR EVERY PRESIDENT GOING BACK TO ROOSEVELT!