Real Unemployment Rate
Real Unemployment Rate Hits 16.8%
Submitted by Tyler Durden on 09/04/2009 08:22 -0500
As markets digest the worse, yet somehow better, than expected 9.7% unemployment, the real state of the labor market is much worse, as indicated by the U-6 number, which has hit a recent record of 16.8% on a seasonally adjusted basis. As a reminder, the "U-6 represents total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers." In other words, in reality the U.S. labor market is likely about as bad as Spain in terms of undoctored jobless data.
Official Employment Rate: 7.2%; Real Unemployment Rate 17.5%... And Rising
Submitted by Tyler Durden on 01/23/2009 02:59 -0500- « first
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