by Michael W. Chapman, The Mirror:
Although the “unemployment rate” in the United States for November is 4.6% — a rate last reached 9 years ago in August 2007 – the “real unemployment” rate is much higher, more than double at 9.3% nationwide.
Real unemployment, or the U-6 number, as calculated by the Bureau of Labor Statistics (BLS) includes “total unemployed, plus all marginally attached workers” and part-time workers age 16 and over.
As the BLS explains on its website, the “unemployment rate,” or U-3 number, “includes all jobless persons who are available to take a job and have actively sought work in the past four weeks.”
That “unemployment rate” does not include part-time workers, underemployed, and marginally attached workers, which is factored in to the U-6 (underutilization) number, the actual rate for total unemployed in the United States.
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