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Strategies & Market Trends : Galapagos Islands

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To: Jorj X Mckie who wrote (11475)	11/6/2002 2:04:54 PM
From: MulhollandDrive	Read Replies (2) of 57110

nypost.com just found this on the layoff thread.... good insights into the "real" level of unemployment. The Labor Department last Friday announced that the U.S. unemployment rate rose to 5.7 percent in October from 5.6 percent in the previous month. No reason to panic, right? But take another look. That 5.7 percent unemployment rate - or what the government calls the U-3 rate - only includes people who are actively looking for work. The jobless rate soars to 9 percent when you include anyone who has given up looking for work because they can't find a job. And that figure - called the U-6 - doesn't include people who've given up looking for employment for more than a year. Washington disregards them entirely. Add up all the various levels of unemployment and you easily go over 10 percent. A better guess would be about 13 percent.

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