u6: CNN Confirms The "Real" Unemployment Rate
- 06/08/09 05:30 AM
For the past couple of months I have been writing about the "real" unemployment rate, the U-6 rate, the rate that no major media outlet seems to know about or wants to write about. This past month, the U-6 unemployment rate surged to 16.4%. The rate includes: 1.) Marginally attached workers - people that want a full time job, have looked for one in the past, but are no longer looking for work. 2.) Discouraged workers - those that have given a job market reason for not looking for a job. 3.) Persons employed part time for economic reasons - in other … (7 comments)
u6: The "Real" Unemployment Rate Jumps To 16.4%
- 06/06/09 02:07 AM
According to the Bureau of Labor Statistics, the "real" unemployment rate, the U-6 rate, jumped from 15.8% in April to 16.4% in May as the labor market shed another "projected" 345,000 jobs during the month. The U-6 rate has jumped nearly 7 basis points from May of 2008 when it was 9.8%. As I have written about before, the U-6 unemployment rate includes three types of workers that are not part of the more publicized U-3 unemployment number: 1.) Marginally attached workers - people that want a full time job, have looked for one in the past, but are no longer looking for work. 2.) … (4 comments)
u6: The "real" unemployment rate surges to 13.5%
- 01/09/09 11:40 PM
Several days ago I had written about the real unemployment rate and why this number best reflects the current job market, and yet despite this, very rarely does the media talk about this number. It's kind of like that "crazy uncle" that a lot of families wish they didn't have, but they do, and every now and then he is going to rear his head and make an appearance at Christmas and the extended family has to deal with the reality that he is still a part of the family. Until one time you actually have a few drinks and get … (5 comments)
u6: What's the real unemployment rate anyway?
- 01/04/09 08:25 AM
With all of the talk and debate about recessions and depressions, the one anomaly and point of contention of the whole conversation has been the unemployment rate which is currently "advertised" as 6.7%. During the great depression, according to Historical Statistics US the unemployment rate peaked at 24.9%. The Bureau of Labor statistics only goes back to 1948. And it is because of this "disparity" in unemployment rates that some are quick to dismiss that the current economic crisis is anything but just another economic "slowdown" or run of the mill recession. Now, there are a couple of points that should be defined, the first one … (0 comments)
For the past couple of months I have been writing about the "real" unemployment rate, the U-6 rate, the rate that no major media outlet seems to know about or wants to write about.
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