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Hardly a day goes by that we don't see some release or comment from a pundit, politician or financial analyst telling us how "solid" the job market is. Well, it's not. And don't take our word for it. Former Bureau of Labor Statistics chief Keith Hall recently was asked about the unemployment rate, which shows 7.6% of all Americans without jobs. His answer was shocking. "Right now (the standard unemployment rate) is misleadingly low," Hall, now with the Mercatus Center at George Mason University, told New York Post financial reporter John Crudele. While it barely got mentioned by the mainstream media mob, Hall says the plunging employment-to-population ratio leads him to believe the real rate of unemployment is much higher than 7.6% — perhaps 10.6%. ...The BLS itself puts out several "alternative" measures of unemployment. One of them, the so-called U6 gauge, adds to ordinary unemployment those who are discouraged, part-time workers who want full-time jobs and those who are "marginally-attached" to the workforce.
