Please note the quotation marks I used above… long time readers will know how a series of very well followed US reports have been “adjusted” over the years to a more positive bias. In the corporate workplace we call this “garbage in, garbage out”; in government we call it “official facts”. So the press runs with it; economists run with it - and we all smile… never questioning the situation. Well not “all” of us.

Read more on the U.S. unemployment rate surpassing Europe’s.

unemployment rate