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Why Unemployment Statistics Can Be Very Misleading


Statistics. They’re great if used appropriately and they’re understood.

According to a recent U.S. government ‘statistic’ the inflation rate is about 1 percent. But anyone who buys anything knows that’s probably not a true portrayal of costs event though that rate is defined as ‘the rate at which the general level of prices for goods and services is rising.

The same argument can be made for what the media, government and politics use when quoting the unemployment rate from the Bureau of Labor Statistics.