Originally posted by focus4chumps
unemployment down to a seasonally adjusted 7.4%. but dont let that stop you from pretending that obama wrecked the economyhttp://www.gallup.com/poll/158483/unadjusted-unemployment-down-october.aspx
That's the U-3 measure which some (including myself) consider to not be an accurate representation.
They go with another measure called "true unemployment" which is the U-6 measure.
It is supposedly around 14.9%:
http://bermudasun.bm/main.asp?SectionID=4&SubSectionID=135&ArticleID=61459
http://www.cnbc.com/id/48468748/Real_Unemployment_Rate_Shows_Far_More_Jobless
"Consider: Nevada's U-6 rate is 22.1 percent, up from just 7.6 percent in 2007. Economically troubled California has a 20.3 percent real rate, while Rhode Island is at 18.3 percent, more than double its 8.3 percent rate in 2007."
"Only three states — Nebraska (9.1 percent), South Dakota (8.6 percent) and North Dakota (6.1 percent) — have U-6 rates under 10 percent, according to research from RBC Capital Markets."
So what is the U-6 measure?
"The U6 unemployment rate counts not only people without work seeking full-time employment (the more familiar U-3 rate), but also counts "marginally attached workers and those working part-time for economic reasons." Note that some of these part-time workers counted as employed by U-3 could be working as little as an hour a week. And the "marginally attached workers" include those who have gotten discouraged and stopped looking, but still want to work. The age considered for this calculation is 16 years and over."
http://portalseven.com/employment/unemployment_rate_u6.jsp