Tuesday, July 24, 2012

Real US Unemployment At 22.9%: Closing In On Great Depression Levels

The chart below shows the two government released unemployment numbers: U3 (red line) and U6 (grey line). The U6 number counts people that have given up looking for work, but not the "long term" discouraged. The SGS number (blue line) from shadowstats includes these long term discouraged. It represents how the unemployment rate was calculated before 1994 when political "adjustments" were made.


John Williams of Shadowstats explains in this Fox News interview:

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