Jim Clifton, CEO of the polling service Gallup, wants to expose a conspiracy theory so vast that it will indict not just the government, but Wall Street and the media as well. These three entities have worked in concert to prop up the “Big Lie” that America’s unemployment rate is a mere 5.6%, as the Labor Department claims.
Writes Clifton in a blog post published Tuesday on Gallup.com:
Here’s something that many Americans — including some of the smartest and most educated among us — don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to 5.6%. The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.