[ PRINT ]
Unemployment is drastically underreported!
Posted by Ed Wolff on July 8, 2011 · Leave a Comment
On July 8, 2011the U.S. Government stated that unemployment had grown to 9.2%.
The real unemployment is much higher. As noted on the government web site, this is the U-2 labor utilization statistic.
The U-2 labor unemployment measure does not include people working part time who want full-time employment and people who have become discouraged and have given up looking for employment.
All of the unemployed are included in the U-6 measure which was at 16.2% on July 8, 2011. The real unemployment is therefore 80% higher than what is reported.
