The broadest measure of unemployment has spiked during the recession. U-6, which measures the unemployment rate, plus willing to work rate, plus working part time/want full time rate. It is consider by many to be the "true" rate. This rate counts everyone who wants to work but cannot due to the economy.
The rate has jumped almost 54% in the past year (Aug 08[10.9] to Aug 09[16.8] seasonally adjusted). A 54% increase in one year is a huge amount. It means millions of people want jobs and cannot find them. If the rate hits 20%, the country will have a major problem.
No comments:
Post a Comment