Thursday, February 26, 2009

Don't Believe The Unemployment Statistics!

How far off is the real number of unemployed to the “official” number? You have to look deep into the Bureau of Labor Statistics monthly report to find this out. Buried in footnote U-6 of Table A-12 of the monthly report is a rate of unemployment that comes pretty close to the actual number of people out of work and who want to work.

As you might have already guessed that real rate is a lot higher. For example, here are the unemployment numbers for January 2009. The official unemployment rate states that 7.6% of the workforce is unemployed. The real rate (people who want a job but can’t find one) is 13.9%. Scroll down to page 23. It is listed in the bottom right-hand corner.

You can read more here.


Candice said...

Yeah, I like the real people that WANT a job but can't find one statistic.

I'll leave my comment at that. ;)

Hope you're having a lovely day!

Chris F. said...

Candice, I'm doing well all things considered. We can expect things to get much worse especially as the banks and those bums in Washington continue to mess things up. Insanity I tell you!

Teri's Blog said...

At least someone is reading the fine details!