The real unemployment rate released today by the Bureau of Labor Statistics of 16.8%, is much worse than the official 9.7% rate reported for February.
The official unemployment rate only accounts for people who are out of work and actively seeking fulltime employment. The real rate, which takes into account part-time workers desiring full-time employment and discouraged job seekers, is a more accurate indicator of the labor market
http://www.commondreams.org/newswire/2010/03/05-11
Here is a flow chart that puts it in perspective... http://www.mint.com/blog/finance-core/a-visual-guide-to-the-financial-crisis-unemployment-rates/
The official unemployment rate only accounts for people who are out of work and actively seeking fulltime employment. The real rate, which takes into account part-time workers desiring full-time employment and discouraged job seekers, is a more accurate indicator of the labor market
http://www.commondreams.org/newswire/2010/03/05-11
Here is a flow chart that puts it in perspective... http://www.mint.com/blog/finance-core/a-visual-guide-to-the-financial-crisis-unemployment-rates/
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