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Strategies & Market Trends : Heinz Blasnik- Views You Can Use
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To: GraceZ who wrote (3790)12/30/2003 12:25:37 PM
From: benwood  Read Replies (1) of 4909
 
Grace, here's how you get 9.7% unemployment, which is roughly the 10% you were asking about. The big increment is the part timers who want full time work but can't get it (without information to support the nature of the part time work--hours, benefits, wages relative to previous or expected job--it's hard to say how "underemployed" they really are):

The nation's official jobless rate is 5.9%, a relatively benign level by historical standards. But economists say that figure paints only a partial — and artificially rosy — picture of the labor market.

To begin with, there are the 8.7 million unemployed, defined as those without a job who are actively looking for work. But lurking behind that group are 4.9 million part-time workers such as Gluskin who say they would rather be working full time — the highest number in a decade.

There are also the 1.5 million people who want a job but didn't look for one in the last month. Nearly a third of this group say they stopped the search because they were too depressed about the prospect of finding anything. Officially termed "discouraged," their number has surged 20% in a year.

Add these three groups together and the jobless total for the U.S. hits 9.7%, up from 9.4% a year ago.

story.news.yahoo.com
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