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The Unemployment Tragedy the Media Won't Report

TexasVRWC Wrote: Mar 09, 2013 10:47 AM
Actually, CBS Evening News did mention the 14% number, but it was only in the tag to the story hyping the 7.7%. With any discussion about unemployment, we need t think about numbers such as those who've stopped looking for work, under-employment, and those one long-term unemployment benefits and don't want to look for work. How much higher would that 7.7% go if long-term unemployment benefits stopped?

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...