We’ll Have 100% Employment When the Last Job Vanishes
Bill Quick

The Broader Measure Of Unemployment: 13.1 Percent | National Review Online

Patrick has already provided a good summary of the job report this morning: The situation isn’t good. I would add one more thing: A broader measure of unemployment reveals that the job market is worse shape than the official unemployment rate suggests. I have mentioned in the past the most commonly reported unemployment rate – which now stands at 6.7 percent — is a very imperfect measure of the health of the labor market.

It’s the number of people without jobs who are available to work and are actively seeking work in the four weeks preceding the survey as a percentage of the labor force (the sum of people in the economy who have a job or want one), but it doesn’t tell you anything about the people who have given up looking for work and the people who are employed but only on a part-time basis (i.e., underemployed).

Actually, it’s probably higher than that:

Alternate Unemployment Charts

Shadowstats has it at about 23%.  

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Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

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