The government last week reported a drop in the unemployment rate from 9.2% to 9.1%.
The numbers are bogus.
First, those not applying for government unemployment benefits even though they are jobless are not included in the official data. Second, the report doesn't take into account people who have gone from high value jobs to menial and low paying ones. Third, the government does not include among the unemployed those who have become discouraged, given up, and stopped looking for work.
Including these excluded individuals would raise the unemployment rate to somewhere between 15% and 25% of the nation's workforce, depending upon which of the supposed experts one chooses to believe.
However, all of this probably is also meaningless as it is based on figures put out by the government, and every step in the collection, compilation, and calculation of the numbers is controlled by a political establishment that is terrified of how the population might react were it aware of the enormity of the economic disaster that the ruling class has inflicted on the country. Accordingly, the data in all likelihood has been fiddled with and corrupted to present the best possible picture while maintaining a straight face when making the still grotesque figures public.
Good rule of thumb: Trust primarily what you and your friends and neighbors personally see and experience, and view with great skepticism all government announcements and media reports.
No comments:
Post a Comment