President Barack Obama claims that the country’s low unemployment rate shows that we’ve rebounded from the Great Recession. But presidential candidates Donald Trump and Bernie Sanders say the “real” unemployment rate is much higher. During this episode of BackStory, the Guys will look at the invention of the official unemployment rate, discuss the struggle among Baltimore’s working classes in the early 19th century to find and keep work, and uncover the hidden history of unemployment in the U.S.
Paul Vigna, Stephen Grocer, John Carney and David Benoit talk the odds of a Fed interest rate hike in December. Plus, a look at the fate of Valeant Pharmaceticals after its CEO is forced to sell a huge block of his stock.