'Real' Unemployment Rate Shows Far Mo...

'Real' Unemployment Rate Shows Far More Jobless

Posted in the Caruthersville Forum

“Radical Islam! Radical Islam! ”

Since: Mar 08

Location hidden

#1 Aug 2, 2012
While the national unemployment rate paints a grim picture, a look at individual states and their so-called real jobless rates becomes even more troubling.

The government's most widely publicized unemployment rate measures only those who are out of a job and currently looking for work. It does not count discouraged potential employees who have quit looking, nor those who are underemployed wanting to work full-time but forced to work part-time.

For that count, the government releases a separate number called the "U-6," which provides a more complete tally of how many people really are out of work.

The numbers in some cases are startling.
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.

Election battleground states paint a picture not much more flattering. Florida's U-6 number is an ugly 17 percent, though Pennsylvania and Ohio are both around 14 percent, below the national U-6 average.

The numbers come as the government prepares to release its latest reading, the July nonfarm payrolls number, on Friday. Economists expect the report show about 100,000 jobs created for the month and the traditional "U-3" rate to hold steady at 8.2 percent.

"We remain concerned about the corrosive influence that these stubbornly high U-6 rates may have on both consumer sentiment and state and local tax revenues," he said. "At current levels, these U-6 rates will continue to be a drag on credit quality."

“Ignorance is not Patriotism.”

Since: Dec 11

Location hidden

#2 Aug 2, 2012
ComradeWinston wrote:
While the national unemployment rate paints a grim picture, a look at individual states and their so-called real jobless rates becomes even more troubling.

The government's most widely publicized unemployment rate measures only those who are out of a job and currently looking for work. It does not count discouraged potential employees who have quit looking, nor those who are underemployed — wanting to work full-time but forced to work part-time.

For that count, the government releases a separate number called the "U-6," which provides a more complete tally of how many people really are out of work.

The numbers in some cases are startling.
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.

Election battleground states paint a picture not much more flattering. Florida's U-6 number is an ugly 17 percent, though Pennsylvania and Ohio are both around 14 percent, below the national U-6 average.

The numbers come as the government prepares to release its latest reading, the July nonfarm payrolls number, on Friday. Economists expect the report show about 100,000 jobs created for the month and the traditional "U-3" rate to hold steady at 8.2 percent.

"We remain concerned about the corrosive influence that these stubbornly high U-6 rates may have on both consumer sentiment and state and local tax revenues," he said. "At current levels, these U-6 rates will continue to be a drag on credit quality."
It will probably take at least 8 years to recover from the Bush failure. Obama can't fix in 4 what took Bush 8 to destroy.
bssouth2012

Dallas, TX

#3 Aug 2, 2012
Buckwheat Rules wrote:
<quoted text>
It will probably take at least 8 years to recover from the Bush failure. Obama can't fix in 4 what took Bush 8 to destroy.
If not mistaken all the downhill run started after Piglosi and GRied took over the purse strings with a filibuster proof majority in both Houses of Congress in 06. Hmmmmmm that means Dems have been in charge for the last 6 years doesn't it? So Bush really couldn't have much if any to do with it.
guest

Saint Louis, MO

#4 Aug 2, 2012
bssouth2012 wrote:
<quoted text> If not mistaken all the downhill run started after Piglosi and GRied took over the purse strings with a filibuster proof majority in both Houses of Congress in 06. Hmmmmmm that means Dems have been in charge for the last 6 years doesn't it? So Bush really couldn't have much if any to do with it.
Yes I agree. I have posted repeatedly that the economy was fine until the democrats took over in January of 2007 and Pelosi and Reid started implementing their job killing economy wrecking polices. I have asked Buckwheat and all the other liberals that blame it on Bush to please show me where the economy and all the stats were worse before the dems took over in January of 2007. Add in Barney Frank and Chris Dodd with the Freddie Mac and Fannie Mae fiasco and you have the mess the democrats created but try to pass the blame. They know the truth, it just makes them feel good to act like Obama and not accept their own failures.
guest

Saint Louis, MO

#5 Aug 2, 2012
Here buckwheat I post it again. Unemployment was 4.6 in January of 2007 when the dems took over. Here is a chart you can use to educate yourself and ween youself off the democrat talking points that make you sound like an idiot. Yes just look at the unemployment stats and how it began to rise and kept rising. Facts straight from the Bureau of labor statistics not bullshit straight from the democrat propaganda machine.

http://data.bls.gov/timeseries/LNS14000000
guest

Saint Louis, MO

#6 Aug 2, 2012
Please note that as the democrats got more control over the house and senate in 2009 how the rates continued to rise even faster. Then when the republicans took over the house in Jan 2011 how the unemployment rates began to drop. Kinda blows the democrat propaganda out of the water dont ya think. There it is in plain sight. LMAO. Here is the link again buckwheat, just in case you missed it before.

http://data.bls.gov/timeseries/LNS14000000

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