Free Markets, Free People
Unemployment: The myth and the reality
And all of it brought to you in charts via Zero Hedge.
The "official" unemployment rate is 8.2%. Zero Hedge claims the real unemployment rate is 14.8%.
The reality in two charts. Chart 1:
In case you’re missing the point, 88 million are not participating. That is a whole lot less than when this started. As Zero Hedge asks ‘must be that everyone is able to retire’. Uh, yeah, right. That chart and number provides context for the next chart.
Lets go to Chart 2. This is the chart that tells the tale and kills the myth:
This is the chart that the GOP nominee ought to have permanently hanging at every single event he holds during this election season. This is indicative of the real unemployment picture and it isn’t pretty.
Certainly, many Baby Boomers are choosing to retire, but as I said on the podcast, a) we’re just getting into Baby Boomer retirements and b) no one would dare argue that everyone has the ability to retire right now. So there is a serious discrepancy between the official unemployment rate and the real unemployment rate. That discrepancy is evident with these charts and destroys the myth of an improving unemployment picture.