With the release of the jobs report on Friday, the broadest measure of unemployment and underemployment tracked by the Labor Department has reached its highest level in decades. If statistics went back so far, the measure would almost certainly be at its highest level since the Great Depression.
In all, more than one out of every six workers — 17.5 percent — were unemployed or underemployed in October. The previous recorded high was 17.1 percent, in December 1982.
This includes the officially unemployed, who have looked for work in the last four weeks. It also includes discouraged workers, who have looked in the past year, as well as millions of part-time workers who want to be working full time.
The official jobless rate — 10.2 percent in October, up from 9.8 percent in September — remains lower than the early 1980s peak of 10.8 percent.
The rate is highest today, sometimes 20 percent, in states that had big housing bubbles, like California and Arizona, or that have large manufacturing sectors, like Michigan, Ohio, Oregon, Rhode Island and South Carolina.
YOU THINK THIS IS BAD? JUST WAIT TILL CAP AND TAX PASSES
I hear this is the unemployed rate if you count children, the infirm, the elderly, zygotes, and the deceased. Panic! Be wary or the falling sky is going to kill us all!
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End Partisan Politics: Franken-Stein 2012
I hear this is the unemployed rate if you count children, the infirm, the elderly, zygotes, and the deceased. Panic! Be wary or the falling sky is going to kill us all!
Actually Steer is correct. Those are the true adjusted numbers released by the White House
Quote:
"The U-6 number measures all of the people who have been adversely affected by the labor market, including the unemployed, those who have stopped looking for jobs, and people who have been forced to work part-time when they'd like to work full hours: 17.5 percent of the labor force. That's a huge number."
The administration has done nothing to positively impact these numbers and some economists see it continuing to spiral to 19.5-20.0 range.
I hear this is the unemployed rate if you count children, the infirm, the elderly, zygotes, and the deceased. Panic! Be wary or the falling sky is going to kill us all!
Unemployment + "discouraged" workers. Not that hard.
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2000-2006, 10 million new jobs. Then the dems got control of congress. Just saying....
I hear this is the unemployed rate if you count children, the infirm, the elderly, zygotes, and the deceased. Panic! Be wary or the falling sky is going to kill us all!
Very funny. You're killing me. Oh wait, that's the government's job.
Did the American recovery and reinvestment act not pass? I recall Obama stating that if the ARRA passed unemployment would NOT exceed 8%. I guess it did NOT pass.
YOU THINK THIS IS BAD? JUST WAIT TILL CAP AND TAX PASSES
Now that is where I get this vertigo feeling...like hanging ten on the edge of the Grand Canyon...
I've said several times in the past year, I've always felt that no matter who was in office, that our nation is strong enough to withstand any yahoo in the White House or Congress.
But I'm now, for the first time, seriously afraid for our financial future as a nation.
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"Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it. " -- Mark Twain
Cap and Trade? Heck wait until this health care bill destroys small business.
Again, who is going to be hurt by this the most. The skilled, well to do, educated person, or the part time, underskilled, little guy struggling to get by as it is?
Some day the lower classes are gonna wake up and realize the Democrats are enslaving them.
Underemployment hits 17.5%
Linear Mode
