The Unemployment Tragedy the Media Won't Report

The Unemployment Tragedy the Media Won't Report

It’s breathtaking how we are being lied to about unemployment specifically, and the economy in general. Just Friday we learned unemployment is down to 7.7% with the miraculous addition of over 200,000 jobs. The media was instantly celebrating great news. But is it actually great news?

First of all the REAL unemployment figure (as all economists know) is U6- which is the true measurement of not only those officially classified as unemployed, but those who have stopped looking. That number is over 14%. Why does the media never mention U6? If we have two measures of joblessness- one at 7.7% and...