The official unemployment figures are meaningless because there would not be such a big concern if the unemployment rate was really 6.7 percent. Because that does not tell the whole story. So many people have just given up looking for work, they are so discouraged by the poor labor prospects that they are no longer being captured by the statistics or they are working part-time but they really want full-time jobs.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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