The Real Unemployment Rate
On September 5, 2009 In Market Analysis No Comments
By Greg Hunter’s USAWatchdog.com
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!