Unemployment - Realy 6.7%

I have been talking a lot about this subject of the absurdity of the unemployment numbers and now this article. 

We all know that our economy, and therefore South Florida Commercial Real Estate Market is intertwined with unemployment.

It again falls under the ask for information and you shall receive it. This article examines the sham that right now is our unemployment rate. I think I understand why the Government does this, to make people feel better about the economy and that things are heading back in the right direction (otherwise known as Consumer Confidence). But unfortunately the unemployment numbers are too large to hide and the problem is getting worse. I think everyone knows someone in this situation now, whether it be a friend, family member or acquaintance. But you know something crazy – I wish I hadn’t read this article. While it is very put your head in the sand kind of behavior, you will see what I mean when you hear these statistics. They are staggering. We just talked yesterday about how unbelievable it was that the unemployment rate dropped .03 percentage points, to 6.7% from 7% in December. The entire drop, 400,000 people, was entirely due to those people leaving the labor force, not being hired for jobs. T

hey further explain how 11 million people who are really unemployed are not being classified as such given how they define “employment”. But if those people were counted the true rate would be above 13%. It is almost double the rate that is trotted out there to the public like progress is being made out there. That number of 13% is almost right on par with Europe right now. But here is the one that is going to keep me up at night. The labor participation rate dropped to 62.8 in December, which is the lowest rate since 1977. We both probably don’t understand what that means but then they tell you it means there are 91.8 million people not in the workforce now. After this, if you are still reading the article after being blown away by this, a little politics is thrown in. Jason Furman, the White House Chairman of the Council of Economic Advisers (what the hell is that? Has anyone ever heard of this Council? 

Maybe it is just me but I never have) is smartly quoted on the latest jobs report saying “As our economy continues to make progress, there’s a lot more work to do.” While I have never heard of this guy or his council, I think it is safe to assume he is a Democrat. It ends with a retort from House Speaker John Boehner, Republican: "There are more families living in poverty today than there were before the president took office, and instead of making it easier to find a good-paying job, Washington has been more focused on making it less difficult to live without one,"

Is unemployment really 6.7 percent?

http://news.yahoo.com/is-unemployment-really-6-7-percent-194320400.html