Friday, January 9, 2009

U-6 Unemployment rate jumps to 13.5%

7.2% national rate.

Job losses for the month 525,000
Job losses they missed the last two months 154,000

So we have job losses of 679,000, compared to ADP estimates of 693,000 yesterday.

The BLS also figured that 173,000 people left the labor force. (Where are these people that are suddenly so rich that they can leave the labor force? Are they living off their stock market riches? Are they flipping properties? As far as we can tell, there was only one accountant with Madoff. I suppose he left the labore force, and we can't yet count George Bush, so where are the other 172,999 that left?) So we really had job losses of 852,000, but who questions Government counting?

But where they are "counted" is the U-6 unemployment rate, which measures discouraged and marginally attached workers.

That rate jumped from 12.6% to 13.5%!

So here is the latest in the U-6 unemployment rate, when the government actually counts those unemployed.

In August the U-6 rate was 10.9%.
In September the U-6 rate was 11.2%
In October the U-6 rate was 12.0%.
In Novemeber the U-6 rate was 12.6%
In December it is now up to 13.5%

But who would want that headline?

No comments: