Open Left

Apples to oranges (4.00 / 1)

Ronald Reagan changed the definition of unemployed in 1986 to exclude "discouraged workers."  The U-6 unemployment rate which includes everybody (and is probably too high) is up a full point in the last month to 16.8%.

The comparisons to the old-style rates shown in 1981-82 (indeed, in all years prior to 1986) is bogus.  This is the worst unemployment since 1939.  Only the rates of 1932-35 were significantly worse (boy were they worse, peaking at 24.9%).

---

by: David Kowalski @ Thu Jul 02, 2009 at 10:33:03 AM CDT

Why is the U-6 too high? .. (0.00 / 0)

U-6 includes all those people whose UE benefits have run out .. plus other things ... U-3 only counts those who still are getting UE benefits(which only about 1/2 of those laid off qualify for)

---

by: Calvin Jones and the 13th Apostle @ Thu Jul 02, 2009 at 10:47:19 AM CDT

[ Parent | ]