One of the comments in response to my Sunday post on BLS data referred to the Shadow Government Statistics website (www.shadowstats.com). John Williams adds long-term discouraged workers to the BLS broadest measure of unemployment. This yields a 22% broad unemployment rate.

“The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers,” Shadowstats writes.

Ugly.

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