UNEMPLOYMENT 24.2% GOV SHOWS 3.8% | BOB & PHIL @ TRADE GENIUS

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The unemployment data is not what it seems to be, in fact, it's far, far, far away from reality. We're going to talk about what you should expect with unemployment and what that really means for our economy.

Unemployment, the numbers that we see from the government and what the big institutions trade from, really doesn't reflect what's going on at the at the ground level.

What's called the blinding flash of the obvious, the unemployment information is totally misleading. And I'm going to give you an example of what would truly be employment in this country.

The data compiled by the federal government Bureau of Labor Statistics, the true rate of unemployment tracks the percentage of the labor force that does not have a full time job, being 35 plus hours a week. But they want one. They have no job at all or does not earn a living wage conservatively pegged at $25,000 annually before taxes.

The government tells you unemployment rate is at 3.8% and we are humming along. But the data tells a far different story, how about being off by a factor of 8? We have 24.2% of the population is basically, unemployed, underemployed or underpaid.

And to me that is absolutely scary, you know, and you can see it, you can feel it. I think that's the vibe you're getting around people, and you look at social media and people are just like, man, I just can't, I can't make it.

Now it's probably more people working 35 plus hours a week, but they're doing it in two or three or four job which ended of itself is a different problem.

The government is trying to press this narrative down because once people start seeing the jobless chart curve up this is no bueno for the economy. And the stock market usually gets the obliterated with this move.

We think with jobs data you have to kind of look beyond what the government data comes out with every week with unemployment, non-farmers payroll numbers and things of that nature. So, this is average weeks unemployed which doesn't get much fanfare and for good reason because if you look at, the way this thing goes, typically when you start seeing a rounded bottom on this and it starts to turn up, you invariably get a recession and you know that's where we're at now. So, this basically is telling us that we're on the cusp of a recession.

If the if the economy is really humming along, then everybody should be fully employed, and these numbers should be going down not up. If you look at every recession, it seems like we're going higher and higher and higher on average weeks unemployed.

So, we just think it's a continuing deterioration in the core of our economy.