We notice, and we HATE.I don't think the government is lying (they are too smart for that)...but I think they are knowingly tabulating and presenting the numbers (both the CPI and the U-3) in a way that provides a greatly distorted view of the reality on Main Street.
The CPI as an inflation indicator is a joke....it is at best an inflation/cost-of-living hybrid.
And the unemployment rate is falling because people are leaving the workforce...period.
Just look at last month...288,000 jobs created.
But look at the household survey numbers and you see that 799K part time jobs were created but 523K full time jobs were lost for a net loss in total hours worked. So it was a negative report but is reported as a good one.
The U-3 is the same...it's a joke because it ignores discouraged workers.
I ignore the headline numbers and the major media reports (they are clueless, IMO) and read the fine print...that is where the story is.
It seems clear to me that this is a Mercedes/McDonald's recovery - with little in between; the Fed is indirectly pumping up the stock markets (GREATLY helping the rich) and gov't./Fed programs are causing rises in crappy jobs for a reduction in solid jobs (quantity over quality).
So the rich get richer and the economy looks decent because the U-3 does not count discouraged workers AND part time jobs are counted equal to full time jobs.
And the masses/media are too naive and/or too ignorant and/or too partisan to notice.
But we are powerless to change.