Category Archives: unemployment
From the WSJ blog:
The comprehensive gauge of labor underutilization, known as the “U-6″ for its data classification by the Labor Department, accounts for people who have stopped looking for work or who can’t find full-time jobs. Its continuing divergence from the official rate (the “U-3″ unemployment measure) indicates the job market has a long way to go before growth in the economy translates into relief for workers.
The U-6 rate is now the highest since the Labor Department started this particular data series in 1994. It likely isn’t as bad as it was in the 1980s, when the headline unemployment rate hit 10.8%. U-6 only goes back to 1994, but a discontinued measure has a longer history. That old U-6 measure peaked at 14.3% in 1982. Through some calculation, a comparable measure can be determined in the current report. Under the old U-6 methodology, the October rate would be 14%, the highest rate since 1982, but still below the peak.
The U-6 figure includes everyone in the official rate plus “marginally attached workers” — those who are neither working nor looking for work, but say they want a job and have looked for work recently; and people who are employed part-time for economic reasons, meaning they want full-time work but took a part-time schedule instead because that’s all they could find.
So fuck that 10.2% number tossed out there today..the real number is a lot friggin uglier.
I finally went to the damn Doc’s today. As Dave told me in an email yesterday..there is little if anything a doctor can do for what ails moi at this point. Gotta be patient…well, I ain’t. So I whined and got some yummy cough med with codeine in it.
At least I haven’t been able to smoke a cigarette in five days. Nap time for my sick ass…
Yet the idiots in the Federal government insists the unemployment rate remained static. Horseshit mutha fuckas! When 62000 people lose their jobs there is at the very least a blip on the screen, It’s not rocket science but it shows how fucked up our federal government is in delivering the correct news to we, the people. It’s propaganda at its worst m’dear reader.
Add to these numbers the amount of folks applying for unemployment-and you have almost half a million claims being paid to laid off workers around the US. These numbers do not take into account the folks that have used up their unemployment compensation.
All the MSM articles I read for this post quote the governments bullshit line that the unemployment rate remains steady. Once again, the MSM feeds us the bullshit that the federal government is handing out daily. We can’t believe the government and we surely can’t believe the MSM. There is one piece of information in the NYT writeup that seems to point to the truth:
The national unemployment rate climbed a full percentage point over the last year. That does not include people who are jobless and have given up looking for work, or people who have been bumped to part-time jobs from full time. Add in those people and the so-called underemployment rate rises to 9.9 percent. “The number of these underutilized workers is up over one million over the past year,” Mr. Bernstein wrote.
So enjoy your fourth of July..I say that w/tongue firmly planted in my cheek.