FACT: Real Unemployment 15%

From the CBO Report, 
"Understanding and Responding to Persistently High Unemployment," 
first paragraph of the Summary, page 9 of the PDF report, link below:


The rate of unemployment in the United States has
exceeded 8 percent since February 2009, making the past
three years the longest stretch of high unemployment in
this country since the Great Depression.


Moreover, the Congressional Budget Office (CBO) projects that the
unemployment rate will remain above 8 percent until 2014.


The official unemployment rate  
excludes those individuals who would like to work
but have not searched for a job in the past four weeks...
(and excludes) those who are working part-time
but would prefer full-time work;


if those people were counted among the unemployed, 
the unemployment rate in January 2012 
would have been about 15 percent.


Compounding the problem of high unemployment,
the share of unemployed people looking
for work for more than six months—referred to as the
long-term unemployed—topped 40 percent in December
2009 for the first time since 1948, when such data began
to be collected; it has remained above that level ever since.

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http://www.cbo.gov/ftpdocs/127xx/doc12757/02-16-Unemployment.pdf