For many years we have all reached a resigned indifference to the way inflation figures are manipulated to suit the masters of the day. The end result is that GDP growth is overstated and adjustments to wages and pensions muted. This same scenario is now being witnessed with the unemployment figures. On the face of it unemployment is still below 10% but if measured in the same way as it was under administrations gone by it ranges from 15-20% in the USA.
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