#IncomprehensibleTruth is still truth. This is only the very beginning of the kinds of breathtaking wake up calls and cataclysmic shifts we'll discover amidst accelerating #BigData in the coming decade.
The first tenant of economics is, "compared to what?" What do we mean by #Unemployment? How many ways has that word been laundered, spun, and compared to false and misleading metrics, to date? This chart begins to pull back the curtain; but you should get the data for yourself and press #OpenData into service of both illuminating our current predicament and forging new ways forward.
|Fig 1. -- Total U.S. Labor Non-Participant Rate.|
totnonpart (top purple line) = Total U.S. Labor Non-Participant Rate. Number of Americans displaced, discarded, disabled, dropped out of the count and completely off the Workforce Map.
civnonpart (orange/yellow line) = Civilian Labor Force Non-Participation Rate (100-civpart).
u6rate (green line) = True Total #Unemployed, plus all marginally attached workers plus total employed part time for economic reasons.
unrate (bottom blue line) = MSM Consensus Crowd-Control #Unemployment Story
Source: Federal Reserve Economic Data (FRED mobile)
Don't like that slice on The Data? Try the direct BLS view on for size:
2014 BLS Update
Still don't like The Data? Think it's out of context? Try this compared to what view, vs. GDP & Profits:
What will really bake your post-scarcity noodle is that right now, in 2013, we've created the first 3D printed food, straight from the Star Trek replicator. Got change for a paradigm?