Friday, February 6, 2009

Payrolls Down by 598,000 unemployment up to 7.6

Jobless rates rose to 7.6 from 7.2 in December.  There were 598,000 jobs lost.  But this is only half of the story.  To see the real story, we need to look at U6 number and beyond. 

U6 includes persons "discouraged" from working.  i.e. People so discouraged by not finding a job, that they have stopped looking.

The U6 number (not seasonally adjusted) is 15.4 and seasonally adjusted to 13.9.  That means even looking at the better number, we have reached 13.9 number.  Only 12 away from 25 of great depression. 

According to, the real unemployment number is 18.  Here is a chart from


Chart of U.S. Unemployment


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