I’m surprised it took this long, but it’s finally become mainstream thinking to acknowledge that the official unemployment rate is little more than nonsensical propaganda. As the emergence of massive populist movements on both the “right” and the “left” have demonstrated, something ain’t right in the U.S. economy, and everyday people get it.
Bloomberg reports:
He had made the drive enough times to already suspect what he might find. Stride Rite had left Huntington for Mexico at the tail end of the recession; Breyers Ice Cream had closed its doors after 100 years. In the weeks after each factory closing in his part of Indiana, Lewandowski had listened to politicians make promises about jobs — high-tech jobs, right-to-work jobs, clean-energy jobs — but instead Indiana had lost 60,000 middle-class jobs in the past decade and replaced them with a surge of low-paying work in health care, hospitality and fast food.
