Posted on 02/24/2015 11:54:36 AM PST by Hojczyk
Federal Reserve Chair Janet Yellen said Tuesday at a Senate Banking Committee hearing that the U-6 unemployment rate--which includes people who are working part-time for economic reasons and those who are marginally attached to the labor force--“definitely shows a less rosy picture” of employment in the country.
People "marginally attached" to the labor force "are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for one work sometime in the past 12 months."
In January, according to the Bureau of Labor Statistics, the "U-3" unemployment rate, which is the one generally reported, was 5.7 percent. U-6 was 11.3 percent.
(Excerpt) Read more at cnsnews.com ...
This statement WILL NOT be emphasized by the MSM.
She made a number of bearish comments...”...housing hasn’t recovered as expected...”
Well, this allows the Fed to keep interest rates at microscopic levels and the funny money flowing.
Dow’s up almost 100 points right now.
And this is why she gets the big bucks!
Please, don’t try this at home.
Duh!
USA: Unemployment Rate Looks 'Less Rosy' When Actual Numbers Are Used
This is unexpected!
Those on SSI are not counted, either.
Another important point to make form that chart... the difference between U-3 and U-6 was 4-5 points from 1994 to 2008... but since Obama took office, it has been around a 7 percentage point differential... a difference of about 2.5 percentage points... AKA 3 million workers and families worse off.
“Unemployment Rate Looks ‘Less Rosy’ When Not Lying about the Economy”
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