Government unemployment numbers came out yesterday, and more of the same false information was evident. While the numbers were disappointing, the government claimed that the “official” unemployment rate went down from 8.2% to 8.1%, and that 115,000 jobs were created. That is a lie!
In April, another 522,000 people fell out of the labor force. The total number that is now completely out of the labor force sits at 88,419,000 people, the highest number since 1981 according to this article in Zero Hedge. This is the highest number ever on record. The charts available in the article noted above are staggering!
As reported by John Williams Shadow Government Statistics, the U-6 calculation, that is the measure that was used in this country until 1994 to measure unemployment, is now at 14.5%. If all unemployed are counted, including those who have given up looking, and those who are unable to find full time employment, the rate of unemployment is at 22.3%. These real numbers are massively worse than what the Obama administration is touting. In fact, they are 2 1/2 times higher!
By exposing these fraudulent numbers, it is apparent that this economy is in much more danger than the White House or their mouthpieces in the media would admit. What you will hear from those sources is that a recovery is firmly in place, and that the unemployment situation is improving. That is simply not the case.
Given the wars, the threat of more wars, the high unemployment, the debt and continuing very high deficits, the European situation that is rapidly worsening, the money pumping currently going on at the Fed, and several other factors, it should be obvious that very troubling times most likely lie ahead!
Caution at this point in time is prudent!