What is the real unemployment rate in Connecticut?

The real unemployment rate in Connecticut is not 8.2%.  It is really around 23%.  So why is unemployment reported much lower than its actual rate?

Good question.  It appears that the federal government manipulates the reporting of key economic data for political purposes, using methodologies that tend to mask bad news.  Please don't tell me you are surprised.

How does the federal government calculate unemployment?  Its unemployment number ignores the "long-term discouraged workers” that the Bureau of Labor Statistics removed in 1994 under the Clinton administration.  In other words, it does not count all those individuals who looked for work in 2008, 2009, 2010, 2011, and 2012, and have not looked for work in the past four weeks because they believe no jobs are available.

Consequently, when those discouraged people are included in the unemployment numbers, it is found that nearly one out of four working adults are without jobs.  And that number has not changed much at all from that calculated in 2011.

What does this mean?  First, there has been no recovery.  Second, there will be no recovery.  Third, the real unemployment rate will only continue to increase over the next generation because the Trans-Pacific Treaty will ship another 40 million jobs out of our country to Asia. 

Of course, the government will continue to mask the real unemployment rates for political purposes, ignoring all the millions who have given up looking for jobs.  Why have they given up looking for jobs?  Well, do you see any help wanted ads in the Hartford Courant?  Are you aware that for every job opening there are received on average 300 resumes?

So beware any statistics provided by politicians.  Please don't tell me that you are surprised that politicians are capable of lying and deceit.