Real Unemployment: 9.3%

sentinelblog

Source: CNS News, by Michael W. Chapman

Although the “unemployment rate” in the United States for November is 4.6% — a rate last reached 9 years ago in August 2007 – the “real unemployment” rate is much higher, more than double at 9.3% nationwide.

Real unemployment, or the U-6 number, as calculated by the Bureau of Labor Statistics (BLS) includes “total unemployed, plus all marginally attached workers” and part-time workers age 16 and over.

As the BLS explains on its website, the “unemployment rate,” or U-3 number, “includes all jobless persons who are available to take a job and have actively sought work in the past four weeks.”

That “unemployment rate” does not include part-time workers, underemployed, and marginally attached workers, which is factored in to the U-6 (underutilization) number, the actual rate for total unemployed in the United States.

As Gallup also explains, “Widely reported unemployment metrics…

View original post 99 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s