Unemployment Rate At A Staggering 22.2% :John Williams

John Williams, of Shadowstats, notes that manipulated government statistics are not changing the fact that the true SGS Unemployment Measure now sits at a staggering 22.2%. Williams also demonstrates that despite the hype from Wall Street about a recovery, parts of the economy remain collapsed. Here is what Williams had to say about the situation: “Adding the SGS estimate of excluded long-term discouraged workers back into the total unemployed and labor force, unemployment—more in line with common experience as estimated by the SGS-Alternate Unemployment Measure—notched lower to 22.2% in March from 22.4% in February.”

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