SMOTI is busy claiming that the unemployment rate is above 10% and that the “liberal” media is now finally catching on.

If that were indeed the case, then the rate has been at least 3-4 points or more above the official rate for decades.

Oh wait, that’s what the U3 (official rate) versus the U6 rate shows. Now, what could have happened that caused a greater disconnect between the U3 and U6 rates than usual since 2000? A GOP refusal to provide a jobs bill, no infrastructure jobs, no minimum wage hikes, and baby boomers beginning their exits from the job market? Naw, that couldn’t be it…