muses of the moment

December 9, 2013

John Williams from

Filed under: Economic Crisis, John Williams shadowstats, The Financial Crisis, Unemployment — Tags: — totallygroovygirlfriday @ 1:11 am

Free summary from John. Here are the real stats. The government doesn’t count those out of work for more than 6 months. The current average unemployment time for a professional position in the same location (you don’t move to another city/region) is 12 months.

– Real Household Income Falls Slightly in October, Remaining Near Cycle-Low
– Shutdown Effects on October Labor Data, and Misreporting of Same, Are More than Reversed in Headline November Numbers
– Resulting Seasonal-Factor Distortions Weigh Heavily on Data Significance; Current Headline Labor Numbers Have Little Meaning
– November Unemployment: 7.0% (U.3), 13.2% (U.6), 23.2% (ShadowStats)

Unemployed people don’t pay taxes, they don’t buy things, and they don’t save or invest for retirement.

This upcoming vote on unemployment extended benefits may be another reason for the official 7%. I have a feeling that the data guys send the stats to the White House and get a note back with a number that the White House wants. Actually, to avoid time and energy, the data guys probably just ask what number the WH (or whoever) want before they do all the detail. That has been going on since Nixon, probably well before.



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