6.7%? Try 24+%!

The government says the unemployment rate is now 6.7%, which should be a good thing. The problem is the number only appears to be low because the labor participation rate has dropped again. When people give up their job search because they can't find work, the government no longer considers them unemployed. If you count the people who dropped out of the work force, the unemployment picture is quite different. Using the old 1994 formula which includes disenfranchised workers, the REAL unemployment number is rapidly approaching 25%.

To get the REAL unemployment, inflation, and GDP numbers, be sure to stop by www.shadowstats.com.