The Truth Behind the Strong Job Market Hype – Ep 832
The Peter Schiff Show Podcast
00:00
Are You Unemployed?
For 20 years, throughout the entire 19 fifties and 19 sixties, the unemployment rate was much lower than it is right now. In fact, it was probably less than a third if you include the long term discouraged workers. So it's simply not true to pretend that we have some kind of historically low unemployment rate. It's just that then we measured them more honestly, and now we measure it more dishonestly. The number one category was leis and hospitality. That's 96 thousand jobs. 86 and a half % of the jobs created were in the service sector. And a lot of those jobs tend to be low paying.
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