Posted on 09/24/2014 2:46:20 PM PDT by SeekAndFind
America's unemployment rate as measured by the Labor Department vastly underrepresents the number of Americans actually out of work, hedge fund manager Kyle Bass told CNBC.
Earlier this month, the government said the nation's unemployment rate fell to 6.1 percent in August, while job growth cooled with just 142,000 nonfarm payrolls added.
"Look at unemployment, the way it's calculated is it's semi-rigged," he argued in a "Squawk Box" interview. "It will trend down to the 5 percent range just because people stop looking for a job."
"If you take everyone that has dropped out of the workforce since the beginning of the financial crisis," he continued, "the unemployment number would be 11 percent."
(Excerpt) Read more at realclear.com ...
11% sounds about right in the general.
There are specific demographics where it’s double that, though, especially the lowered skilled and just graduated.
We did this already!
Depending on on your tastes, Bass is either John Paul Jones or Bootsey Collins.
Me?
I want the Funk!
Gotta Have the Funk!
Make my Funk the P-Funk.
I want to get Funked-up!
rigged like the government's cost of living figures and the illegal immigration figures. DC is a crime syndicate.
I am still unemployed.
RE: I am still unemployed.
1) Are you in the job market?
2) If so, how long have you been looking?
He’s right again. This is the guy who warned that the bottom was about to fall out of the economy in 2008. The Labor Dept. has been lying ever since.
Really?
I would have guessed it was closer to 25% than 11%.
All of the government’s data will be rigged until after the 2014 elections and then “unexpectedly” the unemployment will sky rocket and the GDP will crater.
In silly con valley it`s 25%
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