Tuesday, January 12, 2010

What Is The True Unemployment Number?

The US Bureau of Labor reports an unchanged unemployment rate of 10% for December, but just how accurate is this number? When we add the pushed-aside category of unemployed people who have given up looking for work and the involuntary part-time workers to the equation we arrive at a much more realistic figure, and it’s not a pretty picture. See the following post from Expected Returns.
This is a very weak unemployment report as every important qualitative measure of unemployment showed further weakness. There is no recovery based on the data. From the Bureau of Labor Statistics: (more)

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