http://www.lewrockwell.com/2015/01/paul-craig-roberts/real-unemployment-is-23/
John Williams (shadowstats.com) on the December Payroll Jobs Report and Unemployment Rate
By Paul Craig Roberts
PaulCraigRoberts.org
January 13, 2015
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When the headline unemployed [U.3 measure] become “discouraged,” they are rolled over from U.3 to U.6. As the short-term discouraged workers roll over into long-term discouraged status, they move into the ShadowStats measure, where they remain. Aside from attrition, they are not defined out of existence for political convenience, hence the longer-term divergence between the various unemployment rates. Further detail is discussed in the Reporting Detail section. The resulting difference here is between a headline December 2014 unemployment rates of 5.6% (U.3) and 23.0% (ShadowStats). [The U.6 unemployment rate containing the short-term discouraged workers is 11.2%.]
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Why would anyone believe anything the Gooferment says?
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