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Thread: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

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    The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

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    Published: Thursday, 19 Nov 2009 | 4:55 PM ET Text Size By: Jeff Cox
    CNBC.com

    As experts debate the potential speed of the US recovery, one figure looms large but is often overlooked: nearly 1 in 5 Americans is either out of work or under-employed.
    According to the government's broadest measure of unemployment, some 17.5 percent are either without a job entirely or underemployed. The so-called U-6 number is at the highest rate since becoming an official labor statistic in 1994.
    The number dwarfs the statistic most people pay attention to—the U-3 rate—which most recently showed unemployment at 10.2 percent for October, the highest it has been since June 1983.
    The difference is that what is traditionally referred to as the "unemployment rate" only measures those out of work who are still looking for jobs. Discouraged workers who have quit trying to find a job, as well as those working part-time but looking for full-time work or who are otherwise underemployed, count in the U-6 rate.
    With such a large portion of Americans experiencing employment struggles, economists worry that an extended period of slow or flat growth lies ahead.
    "To me there's no easy solution here," says Michael Pento, chief economist at Delta Global Advisors. "Unless you create another bubble in which the economy can create jobs, then you're not going to have growth. That's the sad truth."
    Looky here, it worse then the MSM and govt have been reporting.
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    Re: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

    Quote Originally Posted by American View Post
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    Looky here, it worse then the MSM and govt have been reporting.
    So you think "unemployed" should be defined as "Discouraged workers who have quit trying to find a job, as well as those working part-time but looking for full-time work or who are otherwise underemployed."

    Obviously you can tell why there is such a big discrepancy in the reporting of "unemployment."

    Is it safe to say that this was your attempt to expose the liberal media?
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    Re: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

    Quote Originally Posted by American View Post
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    Looky here, it worse then the MSM and govt have been reporting.
    This has been the case for many years. The unemployment rate as it is figured is always lower than it really is. I cannot find a source for it, but I was once told it was because they want to keep the numbers figured the same for consistency.
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    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

    lol, once again the definition of a word is not really the definition of a word.


    wtf does unemployed even mean?!


    Well, one might think it means without employment, but no that's too large a number. We've got trim the fat on this thing, guys!

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    Re: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

    Quote Originally Posted by EpicDude86 View Post
    wtf does unemployed even mean?!
    Apparently if you hold a part-time job, you're unemployed.
    Quote Originally Posted by UtahBill View Post
    Let the public school provide the basics, you as the parent can do the fine tuning.

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    Re: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

    Quote Originally Posted by Lightdemon View Post
    Apparently if you hold a part-time job, you're unemployed.
    and if you don't have a job, and you're not seeking employment, you're not unemployed

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    Re: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

    I thought people who didnt want jerbs were useless fodder that needed to be euthanized cause they didn't work hard for what they got like the rest of us werkin folks. Why would we count them?

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    Re: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

    Quote Originally Posted by EpicDude86 View Post
    lol, once again the definition of a word is not really the definition of a word.


    wtf does unemployed even mean?!


    Well, one might think it means without employment, but no that's too large a number. We've got trim the fat on this thing, guys!
    In this case, it's a technical term with a technical definition. The unemployment rate that is normally used is figured from people out of work who are seeking work. The number American gives is those people plus underemployed and unemployed no longer seeking a job.

    There are pushes to change the "official" figure to be the one that American uses, but from what I have seen, when it's hard times and democrats in office, it republicans who want to change it, and when republicans are in office for the rough times, it's democrats who want to change it. it probably will never change because both parties know that it would end up hurting them.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

    As far as I know, if you're unemployed and have given up on looking for work, then you're not counted as being unemployed. But aren't you still unemployed then?

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    Re: The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed

    Quote Originally Posted by Redress View Post
    In this case, it's a technical term with a technical definition. The unemployment rate that is normally used is figured from people out of work who are seeking work. The number American gives is those people plus underemployed and unemployed no longer seeking a job.

    There are pushes to change the "official" figure to be the one that American uses, but from what I have seen, when it's hard times and democrats in office, it republicans who want to change it, and when republicans are in office for the rough times, it's democrats who want to change it. it probably will never change because both parties know that it would end up hurting them.
    Big surprise.

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