The Real Unemployment Number: 102 Million Working Age Americans Have No Jobs

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by IWB · Published June 5, 2017

The Real Unemployment Number: 102 Million Working Age Americans Do Not Have A Job

Did you know that the number of working age Americans that do not have a job right now is far higher than it was during the worst moments of the last recession?  For example, in January 2009 92.6 million working age Americans did not have a job, but we just found out that in May the number of working age Americans without a job increased to just a shade under 102 million. 

According to the bureaucrats in the federal government, the “unemployment rate” in May was the lowest that we have seen in 16 years.  At just “4.3 percent”, we are essentially at “full employment”, and so according to them anyone that really wants a job should be able to find one pretty easily.

Of course that is a load of nonsense.  John Williams of shadowstats.com tracks what our economic numbers would look like if honest numbers were being used, and according to his calculations the (real) unemployment rate is currently 22 percent.

http://investmentwatchblog.com/the-real-unemployment-number-102-million-working-age-americans-do-not-have-a-job/#sthash.04sqCFjC.dpuf

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Alternate Unemployment Charts

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.



Public Commentary on Unemployment
http://www.shadowstats.com/article/c810x.pdf
 

Unemployment Data Series   subcription required(Subscription required.)  View  Download Excel CSV File   Last Updated: June 2nd, 2017

The ShadowStats Alternate Unemployment Rate for May  2017 is 22.0%.

http://www.shadowstats.com/alternate_data/unemployment-charts