Latest Congressional Budget Outlook For 2012-2022 Released, Says Real Unemployment Rate Is 10%


via Latest Congressional Budget Outlook For 2012-2022 Released, Says Real Unemployment Rate Is 10% | ZeroHedge.

“But here is the kicker: “Had that portion of the decline in the labor force participation rate since 2007 that is attributable to neither the aging of the baby boomers nor the downturn in the business cycle (on the basis of the experience in previous downturns) not occurred, the unemployment rate in the fourth quarter of 2011 would have been about 1¼ percentage points higher than the actual rate of 8.7 percent” translation: CBO just admitted that the BLS numbers are bogus and real unemployment is 10%. Thank you.”

Amazing how unreported this is. Media AWOL. And, our President is out there congratulating himself with these phony numbers.

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