According to economist John Williams of Shadow Government Statistics, the unemployment rate for the month of December 2011 was closer to 22.4 percent–not the 8.5 percent reported by the Bureau of Labor Statistics.
Obama’s 8.5% is far removed from reality.
To get closer to the real number, we must consult the (U6) figure that is often touted as ‘true unemployment’. This figure adds into the equation those who fall under the contemporary definition of ‘discouraged worker’ and those who can only find ‘part-time’ work .... Read more at http://revoltoftheplebs.wordpress.com
