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.
We’ll go over those numbers in more detail in a moment, but first I
want to talk a bit about the difference between perception and reality.
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 unemployment rate is
currently 22 percent.