Reason #53: Phony Unemployment Figures

You think the way government fudges the CPI is bad? Just take a look at what they do to keep unemployment rates looking low. It’s got very little to do with how many people are really out of work. Again, it’s not about hard facts and real information. It’s about painting a pretty picture so that we Americans don’t stop to examine just how bad things have gotten.

If you’re able to work, but you’ve stopped looking because you’re just sick and tired of not finding a job-congratulations! The government says you are no longer unemployed.

The Department of Labor’s official definition of “unemployed” is someone who has been seeking work in the previous month. In other words: If you’re able to work, but you’ve stopped looking because you’re just sick and tired of not finding a job-congratulations! As far as they’re concerned, you are no longer unemployed.

The government also neglects to count part-time workers who would rather be full-timers. That means an out-of-work engineer, flipping burgers or parking cars a few hours a week to get by, is defined as gainfully employed. The “institutionalized” (prisoners) are not counted either. That may not seem like a big deal, but two million people fill our jails. That’s a significant number of able-bodied people not contributing to the workforce.

NEXT: Reason #54: The Wall Street Propaganda Mill - Fleecing us with Lies