Friday, March 6, 2009

Think 14.8%, Not 8.1%

The US economy lost 3.2% of its jobs since January of 2007. Keeping that in mind the Bureau of Labor Statistics recently reported that the number is now 4.4 million in unemployment or 8.1%.
Yet a broader, and admittedly more troubling, index considers the unemployment rate to be 14.8%; this includes "people who have stopped looking for work because they don’t believe they can find jobs. It also includes part-time workers who want to be working full time."

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