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U6 Unemployment rate hits 12.5%

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RedEarth Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 02:23 PM
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U6 Unemployment rate hits 12.5%
Broader Unemployment Rate Hits 12.5%, RTE: The headline unemployment rate of 6.7% in November isnt the only one the Labor Department reports. They also break the rate down by age, gender, ethnicity, and education. And in table A-12, on page 19 of the report, they also share their broadest estimate of the unemployment rate, which includes the total unemployed (the standard rate) plus all marginally attached workers, plus total employed part time for economic reasons plus all marginally attached workers.

That rate (called U-6) in November? A whopping 12.5%. ...

http://economistsview.typepad.com/economistsview/2008/1...
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Hawkowl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 02:27 PM
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1. More historically accurate
The U6 measurement more closely resembles the unemployment rate reported before Reagan changed the definition of U3 to make his recession not seem as bad.
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GainesT1958 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 02:36 PM
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2. "U-6" counts "discouraged' workers...
Making it by far the most accurate unemployment stat. That's the REAL unemployment rate we're looking at for this recession right now, folks. :-(

B-)
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Hawkowl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 03:00 PM
Response to Reply #2
4. Bush Depression
It's not a recession! It's a Bush Depression!

Seriously, we need to take a page out of Rove's manual and preemptively name this as the Bush Depression before the media whores start trying to pin this on Obama.
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valerief Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 02:45 PM
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3. It feels like the mid-70s again. nt
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