The Real Recovery | February 08, 2010 | 17 comments

REAL UNEMPLOYMENT IS AT 18%!!!!

source: http://finance.yahoo.com/news/Real-Unemployment-18-Will-etfguide-45329818.html?x=0&.v=1

Image
Katmai512
Today's headline numbers report was that the unemployment numbers, 'surprisingly fell to a five-month low of 9.7%,' according to today's government report.

In reality, unemployment spiked to an all-time high of 18%. Yes, 18%! This is the official number reported by the Bureau of Labor Statistics (BLS).

The BLS publishes different sets of data on a regular basis. The main focus tends to be on the U-3 unemployment rate (currently 9.7%, seasonally adjusted).

U-3 is the 'official' unemployment rate and illustrates total unemployed persons as a percentage of the civilian labor force. U-4 is another category that includes unemployed workers plus discouraged workers. A discouraged worker is someone who's available to work but has stopped actively seeking for work.

U-5 unemployment includes the number of unemployed workers, plus discouraged workers, plus marginally attached workers. A marginally attached worker is someone who is able and willing to work but is not actively seeking work.

U-6 is as close to the real unemployment figure as government reporting gets. This number includes unemployed workers, plus discouraged workers, plus marginally attached workers, plus workers that are forced to work part-time because they are not able to find a full-time job. Put another way, it's the most realistic picture of today's job market as any.

According to the Bureau of Labor Statistics, the number of U-6 unemployed workers is 18% (not seasonally adjusted - 16.5%). This is the highest number of record.
  1. groups:
    Community,   The Real Recovery,   The New Great Depression
  2. tags:
  3.     
    |

17 comments // REAL UNEMPLOYMENT IS AT 18%!!!!

  • bethopea
    • 0
      bethopea  

    • The BLS - take out the labor because there IS NO LABOR and you are left with BS...acronym anyone?
      not that i really think 18% is BS...In LA and most mertopolotin areas I think the % is higher - like in the 24% range.

    • 2 years ago
  • JohnA
  • melynda
    • +1
      melynda  

    • I'm willing to bet (not that I have a job, or any money) that unemployment is on average around that percentage, if we are to include all that gibberish. Unemployed means no job, Part-time is part-time. If it really meant anything, then a part-time worker would qualify for either company insurance or medicaid. I worked part-time and as a single mom at the time, had a lot of bills. I made a hundred bucks a week. I made too much for medicaid. So if it does not count in the DHS office, then it should not count in any other government program.

    • 2 years ago
  • straats
    • 0
      straats  

    • Until Washington House and Senate and White House is purged of lobbyists and corporate money, the heist of taxpayer money to line corporate coffers will continue ad nauseum... not to mention their many monopolies, corporate welfare perks, no bid contracts and cushy revolving door jobs.

      The most recent Supreme Court decision allowing unlimited domestic and foreign corporate bankrolling of representatives of US citizens really is the icing on the cake.. Unless citizens take back their government, that decision may mean the end of democracy and influence of votes on unlimited corporate power. Good bye democracy.. Hello Corportocracy.

    • 2 years ago
  • jubal
  • ChunkyCheezes
  • bailey78
  • 2hellnwait
    • 0
      2hellnwait  
    • bailey78:

      I got it, you don't like Palin. . . so tell me how you man B.O. plenty is going to fix it? . . print more money, expand the government employee rolls to initiate more social handout programs, expand more union influence on businesses, etc, etc, etc. . . .?

    • 2 years ago
  • DRudeBoy
  • 2hellnwait
  • Saladin
    • +1
      Saladin  
    • 2hellnwait:

      Why not roll out some more government programs? Worked in the Great Depression.

      Better than sending an AC-130 into Iraq where 6 billion dollars ups and "disappears."

    • 2 years ago
  • DRudeBoy
  • ibrake4rappers13
  • ibrake4rappers13
  • Guyatthebusstation
  • jubal
    • +3
      jubal  
    • Saladin:

      Try Trillions missing under bush. Trillions from the Pentagon announced by Rumsfeld the day before 9/11, Trillions missing from the Treasury, and Trillions unaccounted for from the FED.

      There is a ton of money missing, poof, all gone, and America is left holding the bill. I am so sick of these republicunts that bitch about the deficit when their party presided over the biggest heist in history.

    • 2 years ago
  • bailey78
more from The Real Recovery:
from the community

top videos