Common Sense Fixes the Job Market by Jake Towne

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Common Sense Fixes the Job Market by Jake Towne

Not only has the government and the Federal Reserve caused the financial crisis with excessive money-printing, reckless spending, bailouts and corporatism, but the government is fully responsible for the rampant unemployment we see in our country today. While the newspaper headlines of 10% use the Bureau of Labor and Statistics U-3 figure, the government’s broadest indicator of unemployment, the U-6 figure, which includes ‘discouraged’ and ‘marginally attached’ workers plus part-time workers who desire a full-time job is currently over 17%. However, the U-6 does not account for long-term discouraged workers who have not been able to find a job, and economist John Williams estimates true employment to be 22% as seen below.

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