The head of Gallup calls 5.6 unemployment a lie

I would have to agree that a 5.6% unemployment is a bit misleading. America has a population of about 320 million people and over 35% of the people are on Welfare that comes out to over a hundred million people about one third of the population. Those people on Welfare are for the most part unemployed or under employed. If we indeed had a UER as low as 5.6% welfare recipients would only be a few million. I would guess a more realistic figure for Americas UER is closer to 15% especially if Employment was defined as full time making better than the minimum wage.

Jim

I would guess a more realistic figure for Americas UER is closer to 15% especially if Employment was defined as full time making better than the minimum wage.

Jim Originally Posted by Mr MojoRisin

Using your criteria, if "full time" = at least 40 hours, 15% sounds low.