Chart Shock: The REAL Unemployment Rate Is 22%

Posted: September 2, 2011 in Economics, US News
Tags: , ,

The Daily Bail
September 2, 2011

It’s now above 23% with the August update.  Details from John William’s Shadow Stats.

Shadow Stats

The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.

The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.

 

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