ht comment
Black unemployment is 12.7%.
The usual suspects here; no surprise.....
"ain't gonna have to worry 'bout no mo'gage, ain't gonna have to worry 'bout no gas....Obama, he gonna take care o' me!"
Counting the ranks of “underemployed” as a result of cutbacks on hours, the unofficial rate hit the highest level in at least 15 years
http://www.financialweek.com/apps/pbcs.dll/article?AID=/20090206/REG/902069980/-1/FWDailyAlert01
The unemployment rate is a comparative number, the U-6 stat might give people the idea that the current recession is worse that the 1980 event.
But U-6 wasn’t calculated for the previous recessions, so I’m concerned that using it now will just create more heat than light and lend credence to the “catastrophe” talk in Washington.
We may well get our catastrophe with the massive pork being passed in Washington and Obama in charge.
But there is no reason to create alarmism by suggesting that the unemployment is worse than Carter already.
Fear, fear, and more fear until Utopia is achieved is the Obama directive.
Miss President Bush yet?
U-6 finally hits the FR mainstream ping
I wonder what that measure of unemployment would have been in 1975?
How about the self-employed, including the many that have created basically one-person careers working at home with a computer? Are they included in employed/unemployed stats along with those that are on some company payroll?
The other group that doesn’t show up is the self-employed, like me, who can’t collect unemployment when they get no work for six weeks at a time.
Unemployment is less than it was in ‘92 —defined as workers looking for work. By adding non-workers who’re not looking for work we’ve come up with an unemployment rate twice as high. Big deal. I mean, if we want we could add in all children under 16, the terminally hospitalized, imprisoned felons, and soldiers killed in the Civil War and end up with an unemployment rate of several thousand percent.