The Unemployment Numbers Are Made Up

Discussion in 'Economics' started by enochbenjamin, Aug 10, 2009.

  1. Yes, the unemployment rate is only an estimate. People who "retire" or become too discouraged and give up, etc.

    But an estimate is all we will ever have, as there is no way to really verify. All we can do, is compare it to itself to get a broad idea.

    On the other hand, the huge black market activity (accepting payments under the table, work of illegal immigrants, drug dealers, etc.) -- good or bad -- tends to reduce the unemployment level if it were factored in.

    So, even the author's concern is still just an estimate. As said, you can make the numbers show almost anything you want.

    But I seriously doubt we will return to the 5% or so unemployment ever. Our overall national debts is likely to kill us slowly.
  2. Very good point. The numbers aren't perfect, but it's the best we have to go on. As long as they are comparable between periods, that's all that matters.
  3. Virtually EVERY FARKIN' THING THE GOVERNMENT TELLS US IS MADE UP.... with a STRONG slant toward "making us (government) look better than we really are"...
  4. Everybody knows the unemployment statistic is a joke, everbody.

    Just ask anyone on the street, from a shoeshine boy to an executive.

    Who are they pretending to fool?