Posted on 03/10/2017 9:33:23 AM PST by qam1
The national unemployment rate fell to 4.7 percent in February, the Labor Department reported Friday. But relying on that one headline number as an indicator for the economy as a whole ignores import information just below the surface.
Each month on "Jobs Friday," the Bureau of Labor Statistics puts out a trove of economic data, each of which provides its own perspective on the labor market and the employment situation. Economists look past the official unemployment rate — that 4.7 percent figure, also known as the "U-3" — to other metrics that give their own view of jobs in the country.
One of those figures is called the U-6 rate, which has a broader definition of unemployment than does the U-3. In February, that number fell two-tenths of a percent to 9.2 percent.
The official unemployment rate is defined as "total employed, as a percent of the civilian labor force," but doesn't include a number of employment situations in which workers may find themselves. The U-6 rate is defined as all unemployed, plus "persons marginally attached to the workforce, plus total employed part time for economic reasons, as a percent of the labor force."
In other words: the unemployed, the underemployed and the discouraged.
(Excerpt) Read more at finance.yahoo.com ...
Exactly.
That was my first thought just reading the headline.
When Obama was President, everything was sunshine and lollipops to the leftist Commie media..now they tell us the real unemployment numbers..from the newsroom: Cant have anything that makes Trump look good
Now that the Kenyan has gone underground to destroy America, all of a sudden, THIS IS NEWS? Conservatives have been saying this for years. The retarded snowflakes at CNBC and Yahoo can both kiss my red, white and blue @$$. Hypocrites.
Try as they might, CNBC won't be able to talk down the economy. The U6 number will continue to decline and the Labor Participation Rate will increase.
Rush just played a montage of the fakestream media.
Narrative is “continuation of Obama’s economy”.
Another benefit of Trump’s victory. The LSM is forced to talk realistically about real unemployment and the labor participation rate. Can hardly stand all this winning!
They looked, and looked, and looked some more, but it still took them eight years to discover the U6 number! Amazing what a Republican presidency will do for the powers of perception of the MSM.
It’s nice to have the watchdog press back after eight years of cheerleading, isn’t it? /s
Exactly. Now that we have a Republican we can talk about the real number.
One of the reasons we need to always have Republicans and never have Democrats is that the press only holds the government accountable, like it was intended, when we have Republicans.
Even if he is continuing Obama’s Economy, they told us that Trump was going to be a disaster.
Now covering underemployment, military casualties, the homeless.
Suddenly U-6 is now an important number. BLS should also post U-6 for same month in 2009 and 2013. Wouldn’t be surprised to see DJT Tweet about this.
ROTFL.....we can be unanimous about this! Already, President Trump is having a positive impact on the economy. So all of a sudden media discovers the “real unemployment rate”!
Right - most of us knew this was coming.
I think that to counteract this the Trump people should go back and recalculate all the fake numbers that came out over the past 8 years.
And put it front and center so that people understand two main points: 1)everyone’s been lied to during the entire 0bama presidency, and 2)the 0bama economy was absolutely terrible (depression levels).
Also noticed that the word “unexpected” has reversed context again
This is probably the first time CNBC has mentioned U-6 in eight years.
Of course when Trump took office the media headlines can only tell how bad he is doing.
Figures lie and liars figure, should be the warning label on all products of the MSM.
Wait until they discover the workforce participation rate and what a disaster it is compared with say 2007.
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