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- Sep 15, 2008
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John Williams, of Shadowstats, notes that manipulated government statistics are not changing the fact that the true SGS Unemployment Measure now sits at a staggering 22.5%. Williams can only use comparisons from the Great Depression to put things into proper perspective. Here is what Williams had to say: The Economy Still Is Not Recovering".
An unemployment rate above 22% might raise questions in terms of a comparison with the purported peak unemployment in the Great Depression (1933) of 25%. The SGS level likely is about as bad as the peak unemployment seen in the 1973 to 1975 recession.