The unemployment figures everyone sees and hears through the news agencies are known as the U3 figures. This figure everyone has heard is around 9.1%, but this is NOT the truth.
It is the U6 figure Americans should be most concerned about. The U6 figure takes a great deal more into account. For example, the U6 figure includes those who are discouraged and have stopped searching for work, those that have used up their unemployment benefits and have taken part time jobs but want full time, and those that are underemployed. The underemployed are, as an example, an aeronautical engineer who has run out of unemployment benefits and now works part time at a retail store.
This is what is REALLY happening!
So, in a nutshell, the publicized U3 figure is around 9.1%, but the U6 figure is 16.2%!
http://portalseven.com/employment/
So whenever you hear about the unemployment rate from the news media, just remember that it is not the truth.
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