Friday, January 10, 2014

The real unemployment rate? 13%. Oh, yes it is.

From CNBC.com:

The U.S. Labor Department said Friday that the unemployment rate fell to 6.7 percent in December—but does that rate tell the real story? (hint: 13.1%)





A number of economists look past the "main" unemployment rate to a different figure the Bureau of Labor Statistics calls "U-6," which it defines as "total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers."

In other words, the unemployed, the underemployed and the discouraged — a rate that still remains high....

The U-6 rate was unchanged in December at 13.1 percent.
----
Link: http://www.cnbc.com/id/101326426

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.