Anyone know what U6 is?????
U6 was 17% at the first of October so it has to be close to 20% now.
They hide it under the ponderous link Table A-12. Alternative measures of labor underutilization
(Waving hands...) "I do, I do!"
More helpfully, it counts those who have given up looking for work, and those who consider themselves underemployed because they've taken part-time work when they really want a full time job but can't find it.
What is currently reported as "unemployment" is called U-3. The interesting thing is that, some time back (experts--jump in with the dates) what used to be reported as "unemployment" was U-6. So, today's statistics under-report the situation for the purposes of historical comparison.
U-6 = 17.5%
http://www.bls.gov/news.release/empsit.t12.htm
That doesn’t include the -411,000 that left the civilian force since January, or the “The preliminary estimate of the benchmark revision indicates a downward adjustment to March 2009 total nonfarm employment of 824,000” per the BLS in the September report.
Why are we still bringing in 125,000 new LEGAL workers each month?