Sunday, May 17, 2009

24,700,000 Unemployed or Underemployed Americans: Job Losses Accelerate with 6 million unemployed over last year. Real Unemployment rate now at 15.8

24,700,000 Unemployed or Underemployed Americans: Job Losses Accelerate with 6 million unemployed over last year. Real Unemployment rate now at 15.8 Percent.
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The fact of the matter is, when we total up all of the unemployed and underemployed we find that close to 24,700,000 Americans fall in this category.

unemployment rate1

Over the past 12 months the number of unemployed has risen by 6 million. Also, if you look at the above chart, the rate has shot up by 3.9% from 5% last April of 2008 to the current 8.9%. Yet that rate is for those that are unemployed. When we start looking at the broader measure of U-6 we see that 15.8% of people are unemployed or underemployed. Let us break down the numbers:

Unemployed: 13,700,000

Part-time but looking for full-time: 8,900,000

Marginally Attached and Discouraged Workers: 2,100,000 ...

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