Congress Moves To End Manipulated Unemployment Rate
Real Unemployment Calculation Act looks to force the government to stop using an unemployment rated that under-reports true unemployment by up to 50%.
Congressman Duncan Hunter is pushing to have the official US unemployment number changed to be a figure that accurately reflects the true number of unemployed Americans.
While most Americans don’t know it, the government actually produces 6 different unemployment statistics from U-1 to U6 currently range from (4.2% to 14.9%).
The government publishes “U-3″ as the official number which currently stands at 8.2% but that statistic is manipulated so much with ‘exclusions’ and ‘adjustments’ it doesn’t even begin to show a true picture of US unemployment.
Representative Hunter is pushing to change the “U-5″ number as the official unemployment statistic to because it includes, among other exclusion or adjustments, the roughly 87 million people who the government considered to have dropped out of the labor force altogether because they haven’t been able to find a job in such a long time.
His legislation the ‘Real Unemployment Calculation Act’ — a legislative fix that would require the Department of Labor to get real about what it tells the American people’ is currently being debated in congress.