The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

The Phony Unemployment Rate

Feb 6, 2012

The Labor Department’s most recent figures show the official U.S. unemployment rate dropped to 8.3% in January from 8.5% in December. The media was quick to hail the new figures.

Of course, if there was a real recovery, a growing part of the workforce would be working. But the Labor Department’s own figures show the exact opposite. What it calls the labor participation rate is lower than at any time since the recession began in 2007! That means less and less of the workforce has a job, and the depression is getting worse.

Government statistics lie! Are we surprised?