Here’s a funny video explaining the true unemployment numbers that the BLS just released.

The Bureau of Labor Statistics (BLS) announced today that the unemployment rate for November fell to 10%. This figure represents 15.4 million officially unemployed people.

In reality there are over 26 million Americans who are either jobless or underemployed. The “real” jobless rate takes into account part-time workers seeking full-time work, discouraged job seekers and persons furloughed from full-time to part-time status. The real rate of unemployment is 17.2% and is a more accurate indicator of the labor market.