by Daily Bell Staff
The Daily Bell
Trump … said he thinks the jobless rate is close to 20 percent and not the roughly 5 percent reported by the Labor Department. And, of course, Crudele reported, anyone who buys the 5 percent figure is a “dummy,” according to Trump. This, in a nutshell, is typical of the usual economic conspiracy theories we have discussed in the past. – Bloomberg
Good for Trump.
The jobless numbers are actually part of a much larger mainstream “conspiracy” (as Trump would put it) that goes the heart of the way economies work in 21st century America.
There are something like 100 million Americans not working, including older people and young people. That’s a fairly well accepted statistic.
These people are not counted in the “jobless” figures though in fact they may want to work.