True Unemployment Is 17.6%, Not 7.6%

 Markos Kaminis

The government Friday reported that the unemployment rate was 7.6% in May, but I dispute that for two critical reasons. When incorporating underemployed Americans into the count, and when accounting for the 7.26 million Americans I estimate are missing from the labor force count due to their very long-term joblessness, the real unemployment rate could be as high as 17.6%, and is probably at least 11.7%. Thus, the economy is not as healthy as one might hope based on the government's account. It is also greatly dependent on the Federal Reserve's synthetic aid and is highly vulnerable in its current state. So, considering this, I have to wonder if America understood the current state of affairs, would the SPDR S&P 500 (SPY), SPDR Dow Jones Industrial Average (DIA) and the PowerShares QQQ (QQQ) each be up in the mid-teens year to date?

Read Article in Seeking Alpha. http://seekingalpha.com/article/1488832-true-unemployment-is-17-6-not-7-6