Treading Water

By observation, in my area, I've always thought the unemployment rate was way higher than reported. Lott explains why the usual parameters just do not work in today's world.

Also, did you notice the 1.7% GDP growth? If I'm not mistaken that is at, or slightly less than the population growth rate. The present definition of recession and recovery is obviously very flawed. We have, in actuality, never, I repeat never, started into a recovery. We are at best treading water.