The unemployment report on Friday showed zero jobs had been added to the economy. That of course is shaded high. The Bureau of Labor Statistics or BLS manipulates the number week after week. Always making the employment picture appear rosier than it truly is. So what's the real unemployment rate?
I tend to agree with ShadowStats 22.7% figure. Here's a good piece that explains why government generated figures are completely unreliable. http://www.economicpopulist.org/content/whats-real-unemployment-rate
Two other really dreadful things have happened. People are finding part time jobs without benefits. And the salaries of the full time jobs that they do find- have been reduced.
I land in the "never have been counted" unemployed group. I'd like to work but find myself looking at slave wages with no benefits. It makes little sense to me, to subject myself to 40 hours a week of tyranny to make a wage I made 30 years ago and turn an even larger piece over to the government.
I find Labor Day this year a little ironic. Like celebrating something that no longer exists here. Do they have Labor Day in China or Mexico? If not- they should think about starting one.