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Wakum Mata!
Politcally Incorrect Musings
We are in a depression. 
7th-Aug-2009 09:06 am
Money
The following data comes from the U.S. Bureau of Labor Statistics:

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  HOUSEHOLD DATA                                                                                                            HOUSEHOLD DATA
  
  Table A-12.  Alternative measures of labor underutilization

  (Percent)
                                                                                                                                          
                                                                                                                                          
                                                                                                                                          
                                                            Not seasonally adjusted                   Seasonally adjusted                 
                                                                                                                                          
                          Measure                                                                                                         
                                                                                                                                          
                                                            July     June     July     July     Mar.     Apr.      May     June     July  
                                                            2008     2009     2009     2008     2009     2009     2009     2009     2009  
                                                                                                                                          
                                                                                                                                          
  U-1 Persons unemployed 15 weeks or longer, as a percent                                                                                 
       of the civilian labor force.......................    1.9      4.8      4.9      2.1      3.7      4.0      4.5      5.1      5.1  
                                                                                                                                          
  U-2 Job losers and persons who completed temporary                                                                                      
       jobs, as a percent of the civilian labor force....    2.9      5.9      6.0      3.0      5.4      5.7      6.2      6.2      6.2  
                                                                                                                                          
  U-3 Total unemployed, as a percent of the civilian                                                                                      
       labor force (official unemployment rate)..........    6.0      9.7      9.7      5.8      8.5      8.9      9.4      9.5      9.4  
                                                                                                                                          
  U-4 Total unemployed plus discouraged workers, as a                                                                                     
       percent of the civilian labor force plus                                                                                           
       discouraged workers...............................    6.3     10.1     10.2      6.0      8.9      9.3      9.8     10.0      9.8  
                                                                                                                                          
  U-5 Total unemployed, plus discouraged workers, plus                                                                                    
       all other marginally attached workers, as a                                                                                        
       percent of the civilian labor force plus all                                                                                       
       marginally attached workers.......................    7.0     10.9     11.0      6.7      9.8     10.1     10.6     10.8     10.7  
                                                                                                                                          
  U-6 Total unemployed, plus all marginally attached                                                                                      
       workers, plus total employed part time for                                                                                         
       economic reasons, as a percent of the civilian                                                                                     
       labor force plus all marginally attached workers..   10.8     16.8     16.8     10.4     15.6     15.8     16.4     16.5     16.3  

    NOTE:  Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and
  are available for a job and have looked for work sometime in the recent past.  Discouraged workers, a subset of the marginally attached,
  have given a job-market related reason for not looking currently for a job.  Persons employed part time for economic reasons are those
  who want and are available for full-time work but have had to settle for a part-time schedule.  For more information, see "BLS
  introduces new range of alternative unemployment measures," in the October 1995 issue of the Monthly Labor Review.  Updated population
  controls are introduced annually with the release of January data.



  

Table of Contents

Last Modified Date: August 07, 2009


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Note that unemployment is at 16.3%, and NOT the 9.4% you have been hearing.
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