boedicca
Uppity Water Nymph from the Land of Funk
- Feb 12, 2007
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It's not 9.9% - it's 17.1% (using BLS U6 - the real # is closer to 22%).
We have a massive unemployment problem which is being papered over with government hiring permanent and temp workers, and the bail out of state and local government which need to significantly reduce their bloated workforces.
Yeah, let's use a different measure because it will make Obama look bad! And no one is smart enough to catch us!
jeezus
It's the more accurate measure - and one calculated by the BUREAU OF LABOR STATISTICS. If it's not meaningful, why do they bother with it?
U6 includes people who are unemployed but have put looking for a job on hold because there are not jobs in their area or career. 17.1% is not good.
At April's job creation rate, it will take nearly 3 years to recover the jobs lost in the recession. Even more are needed to account for population growth. The monthly job creation rate would have to increase to 400K.
Unemployment drops to 9.7% despite more job losses
231K just means we are continuing to dig a deeper unemployment hole.