Silent misery: Actual US unemployment 37.2%, record number of households on food stamps in 2013


22 Jan 2014

As the White House proclaims a recovery is occurring, and the stock market has a head of steam, millions of Americans and their dependents are being left out of the recovery, according to a set of economic indicators.

Perhaps the most worrying yet least reported aspect of the  so-called US recovery involves the national labor picture.  Although the official US unemployment rate is 6.7 percent, this  figure obscures the reality, according to an influential Wall  Street adviser.

In a leaked memo to clients, David John Marotta calculates the  actual unemployment rate of Americans out of work at an  astronomic 37.2 percent, as opposed to the 6.7 percent claimed by  the Federal Reserve.

Read more

Leave a Reply