Unemployment rate bottoms, or so we’re told.
It’s no secret that unemployment has been climbing steadily. A job’s report issued this last friday indicated that this trend may be slowing.
Those looking to invest, purchase a home, or just trying to gauge their saving habits can benefit greatly from such news. This said, just how much unemployment has actually slowed is currently the subject of much debate.
According to Forbes,
The Labor Department reported Friday that the jobless rate in July was 9.4%, one-tenth of percentage point lower than in June. The U-6 rate, which includes frustrated part-timers as well as those who have stopped looking, also fell slightly, to 16.3%. Williams figures that broader rate hit 20.6%, 25% higher than the government figure
This seems to indicate that the figures being reported have been manipulated to indicate a ’slowing’ in unemployment. Given the discrepencies in data, whether unemployment has actually declined is difficult to determine.
An excellent resource for comparing Government statistics to real numbers can be found at ShadowStats. Taking a look at the numbers there can help one make a better decision for future investments.
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