The Real Unemployment Numbers Department Redux
The BLS reported that in April, 52 months after the recession started, the total unemployment rate counting the unemployed and involuntarily underemployed was still 14.5 percent. That's already persistent depression level unemployment. But the Shadow Government Statistics website, which includes the long-term discouraged workers the government doesn't count at all anymore since 1994, reports the total unemployment rate at 22.3 percent. That's what the total unemployment rate would be today if it were calculated the same way it was before 1994. Happy days are here again, under Obamanomics. See you at the polls in November.
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