HappySqurriel on 08 October 2012
What people are skeptical about is the statement that "Unemployment is below 8%" ... When you look at the employment to population ratio you get this:
The employment to population ratio has fallen (roughly) 8% from it's pre-crisis peak of (roughly) 63.5% to it's current level of (roughly) 58.5%; and (roughly) 10% from it's dot-com bubble peak. Unemployment was officially reported at (roughly) 5% which would indicate that the unemployment rate should be close to 13.5%.
