Fri 6 Nov 2009
The media today is announcing that the unemployment has now reached 10.2%, up from 9.8% from the previous month. This unemployment figure quoted by the media is the U-3 from the Department of Labor, Bureau of Labor Statistics. Look at the U-6 figure of 17.5% announced today and see how this current figure of 17.5% fits in and compares to the Great Depression in this chart from 6 months ago. More and more people are looking at the U-6 as the true measure of unemployment as you can see in this Wall Street Journal article today.