Almost 93 million people of working age are unemployed. Yet the unemployment rate is being reported as about 5.6%
And if we can make it 100 million Not Working, we will be at Full Employment.
It would not surprise me. LOL!
We hear that kind of number a lot but nobody seems to know where it comes from. The BLS says that the total working age not-in-jail population, minus the number of employed, leaves 102 million.
It's a number that was steady before the recession and then suddenly leapt 11 million. Another number the BLS publishes is the fact that we've also seen 6 million suddenly bumped from full time to part time.