Ron Paul: Unemployment rate is ‘probably closer to 20 percent’
March 10, 2012
TOPEKA, Kan. — This morning’s jobs report was only a token sign of progress for the economy, Rep. Ron Paul (R-Tex.) said at a campaign event here Friday.
Speaking to a crowd of several hundred supporters at the Topeka Performing Arts Center, Paul contended that the actual unemployment rate is much higher than today’s report would suggest.
“You know what the unemployment rate really is? It’s probably closer to 20 percent,” Paul said to a cheering crowd at his first of three Kansas events Friday. “Today they were talking about the good news reports, but they’re very, very token.”
This morning’s report showed that in February, the economy added 227,000 jobs — a bit of welcome news for the Obama administration — and that the unemployment rate remained unchanged at 8.3 percent.
Paul has long argued that the unemployment figures released by the Bureau of Labor Statistics are inaccurate and that the country has actually been in a depression for the past decade.