'Real' Unemployment Rate Shows Far More Jobless
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.
Those numbers compare especially
unfavorably to the national rate, high in itself at 14.9 percent though off its
record peak of 17.2 percent in October 2009.
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