Unemployment is drastically underreported!

On July 8, 2011the U.S. Government stated that unemployment had grown to 9.2%.

The real unemployment is much higher. As noted on the government web site, this is the U-2 labor utilization statistic.

The U-2 labor unemployment measure does not include people working part time who want full-time employment and people who have become discouraged and have given up looking for employment.

All of the unemployed are included in the U-6 measure which was at 16.2% on July 8, 2011. The real unemployment is therefore 80% higher than what is reported.

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