Results 1 to 5 of 5

Thread: CNBC arguing the real jobless rate @ 17.5%

  1. #1
    God/dess Deogol's Avatar
    Joined
    Dec 2003
    Posts
    5,493
    Thanks
    120
    Thanked 50 Times in 35 Posts

    Default CNBC arguing the real jobless rate @ 17.5%

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

    By:
    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.

  2. #2
    Banned Eric Stoner's Avatar
    Joined
    Oct 2006
    Location
    NYC
    Posts
    5,150
    Thanks
    1,261
    Thanked 1,430 Times in 888 Posts

    Default Re: CNBC arguing the real jobless rate @ 17.5%

    Quote Originally Posted by Deogol View Post
    http://www.cnbc.com/id/34040009

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

    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.
    Easy does it. The 17.5% number reperesents the total of unemployed PLUS those who have stopped looking for work PLUS those now working part-time who were working or want to work full time. It's the total of "employment distress".

  3. #3
    God/dess Deogol's Avatar
    Joined
    Dec 2003
    Posts
    5,493
    Thanks
    120
    Thanked 50 Times in 35 Posts

    Default Re: CNBC arguing the real jobless rate @ 17.5%

    Quote Originally Posted by Eric Stoner View Post
    Easy does it. The 17.5% number reperesents the total of unemployed PLUS those who have stopped looking for work PLUS those now working part-time who were working or want to work full time. It's the total of "employment distress".
    Hence why the article refers to the number as "jobless" and not "unemployed." The clarity is welcomed however.

  4. #4
    AudreyLeigh
    Guest

    Default Re: CNBC arguing the real jobless rate @ 17.5%

    I was taught this yesterday when we were going over The Depression.

    To be "unemployed" you must have
    1) been working
    2) lose your job
    3) be looking for a job

    So, in essence even tho I am "jobless" I am not "unemployed". So, even tho the jobless rate is 17.5 most likely before this economic downturn it was still high....

  5. #5
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: CNBC arguing the real jobless rate @ 17.5%

    there really isn't any argument on this particular statistic. It's officially published by the US gov't BLS under the title 'U6 Unemployment'




    With many thanks to Shadowstats !

    Shadowstats also continues to calculate a 'pre Clinton era' broad unemployment statistic that is also shown on the above chart

    (snip)"The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated "discouraged workers" defined away during the Clinton Administration added to the existing BLS estimates of level U-6 unemployment. "(snip)


    more info at

    ~
    Last edited by Melonie; 11-19-2009 at 04:04 PM.

Similar Threads

  1. The REAL Unemployment Rate
    By Eric Stoner in forum Dollar Den
    Replies: 32
    Last Post: 02-08-2010, 10:15 AM
  2. Replies: 6
    Last Post: 09-05-2009, 04:02 PM
  3. Jobless rate could be 16% and increasing
    By Deogol in forum Dollar Den
    Replies: 0
    Last Post: 06-09-2009, 11:34 AM
  4. Mad Money cnbc
    By krchab99 in forum The Lounge
    Replies: 6
    Last Post: 10-20-2006, 03:37 PM
  5. Replies: 8
    Last Post: 06-28-2006, 08:01 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •