Friday, February 12, 2016

What's the current unemployment rate?

What's the current unemployment rate? Pretty low, actually, but Republicans always complain that the official rate doesn't include people who have given up looking for work, or people who took part-time work when they really want to be employed full time.

And they are right! The official employment rate (also called U-3) does not include those people.

However, the Labor Department does collect additional data and publishes it. In fact, there are five other employment rates, aside from the official one.

Republicans are (naturally) focused on the highest one. Called the "U-6" this employment rate includes the U-3 (total unemployed,) PLUS discouraged workers PLUS all persons marginally attached to the labor force, PLUS total employed part time for economic reasons.

Republicans such as Donald Trump claim the U-6 is at least 29 percent, and possibly as high as 42 percent but they are full of crap.

Its actually 9.9.


-- During 8 years of Bush, the U-6 went from 7.3 (Jan 2001) to 14 (Jan 2009); Meanwhile...

-- During almost 8 years of Obama it went from 14 (Jan 2009) to 9.9 (now)

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