The Friday headline in the Wall Street Journal reads “Job Losses Moderate But Unemployment Hits 9.7%.” This is just a short post to give you the “Real” number according to John Williams at shadowstats.com. He recreates government statistics the way they were done before the Bureau of Labor Statistics changed methods to make things look better than they really are. According to shadowstats.com, the unemployment rate using the BLS method in 1994 would be 21.1%, an increase of .5%. By the way, Williams predicted there would be a negative surprise two days ago. (see USAWatchdog post “Alert! No Substance to Economic Recovery) He was right on target!
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Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.