- Feb 12, 2007
- 59,439
- 24,104
- 2,290
That's right, but irrelevant, the U-3 only counts people LOOKING for work.For about the umpteenth time, the unemployment rate that is reported, which is categorized as U-3, does not count people who have been out of work for four years or more and have given up looking for a job.
The U-4 rate does however count those who have given up looking for work but still want a job no matter how many years they have been unemployed, and it is presently 5.5%
I gotta ask...how exactly does the government determine someone has given up?
A DC bureaucrat decides not to count him so that stats look better for Obama.