http://www.marketwatch.com/news/story/payrolls-plunge-stunning-533000-november/story.aspx?guid=%7B5446C124-6428-4C60-8CB9-30505CCA12AA%7D
An alternative gauge of unemployment - which includes discouraged workers and those whose hours have been cut back to part-time - rose to 12.5% from 11.8%. The number of workers forced to work part-time rose by 621,000 to 7.3 million.
Market watch does not disclose this as U6 but it is the December number. This number is gr owning about 1% per month. I view 12% or higher be very scary numbers. We are now at the lows of the 80's which where the worse outside of the Great Depression when we hit 25% (A guess number as the official numbers did not start till the late 40's)
If the 80's peaked at 12.8% and that was the trough of that recession we clearly have a ways to go. Additional the revision have been horrific.
2 comments:
I've looked at the BLS site and cannot find the U6 number. Is it in a special place, or does one have to calculate it from other statistics there?
Here it is. You have to find "Alternative Measures of Unemployment"
http://www.bls.gov/news.release/empsit.t12.htm
In the future, just use the search bar at the upper right at:
www.bls.gov
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