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‘Real’ Unemployment Rate Shows Far More Jobless

Posted By admin On August 3, 2012 @ 2:28 am In Money Watch | Comments Disabled

Jeff Cox
CNBC.com [1]
Aug 3, 2012

While the national unemployment rate paints a grim picture, a look at individual states and their so-called real jobless rates becomes even more troubling.

The government’s most widely publicizedunemployment rate [2] measures only those who are out of a job and currently looking for work. It does not count discouraged potential employees who have quit looking, nor those who are underemployed — wanting to work full-time but forced to work part-time.

For that count, the government releases a separate number called the “U-6 [3],” which provides a more complete tally of how many people really are out of work.

The numbers in some cases are startling.

Consider: Nevada’s U-6 rate is 22.1 percent, up from just 7.6 percent in 2007. Economically troubled California has a 20.3 percent real rate, while Rhode Island is at 18.3 percent, more than double its 8.3 percent rate in 2007.

Full article here [1]

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URL to article: http://www.prisonplanet.com/real-unemployment-rate-shows-far-more-jobless.html

URLs in this post:

[1] CNBC.com: http://www.cnbc.com/id/48468748

[2] unemployment rate: http://www.cnbc.com/id/44491326/

[3] U-6: http://data.bls.gov/cgi-bin/surveymost

[4] The ‘Real’ Jobless Rate: 17.5% Of Workers Are Unemployed: http://www.prisonplanet.com/the-real-jobless-rate-17-5-of-workers-are-unemployed.html

[5] Real Unemployment Rate 14.6 Percent in October: http://www.prisonplanet.com/real-unemployment-rate-14-6-percent-in-october.html

[6] Real US unemployment rate at 16 pct: Fed official: http://www.prisonplanet.com/real-us-unemployment-rate-at-16-pct-fed-official.html

[7] Average Teen Unemployment Rate in D.C. is 50.1%, Analysis Shows: http://www.prisonplanet.com/average-teen-unemployment-rate-in-d-c-is-50-1-analysis-shows.html

[8] Jobless Rate Actually Stands at 11.5%: Roach: http://www.prisonplanet.com/jobless-rate-actually-stands-at-11-5-roach.html

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