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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
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  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 ,” 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.
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URL to article: http://www.prisonplanet.com/real-unemployment-rate-shows-far-more-jobless.html
URLs in this post:
 CNBC.com: http://www.cnbc.com/id/48468748
 unemployment rate: http://www.cnbc.com/id/44491326/
 U-6: http://data.bls.gov/cgi-bin/surveymost
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