Thursday, February 11, 2010
Black U-6 Near 25%!!!
Using the broadest measure of unemployment, U-6, and a basic logical computation, nearly a quarter of Blacks in the US want to work and cannot get it. The BLS U-6 measure includes the all unemployed workers, workers who work part time and want full time work, and discouraged workers who would work if offered.
The BLS releases only a U-6 measure for the general population. It does not release a U-6 measure for specific demographic groups. However, computing U-6 for Blacks is straight forward. Historically, the employment situation for Blacks has always been worse then that of the general population. Theirfore, U-6 would also be worse for Blacks than for the general population, if released. So, if we add the difference between the general U-3 and U-6 to the Black unemployment rate, we would logical get a figure that is the minimum U-6 for Blacks. The real Black figure should be higher. Sadly.
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