OMG: Broader Measure of U.S. Unemployment Stands at 17.5%!!!

“The official jobless rate excludes millions of people who have given up looking for work and part-time workers who want to be working full time.

With the release of the jobs report on Friday, the broadest measure of unemployment and underemployment tracked by the Labor Department has reached its highest level in decades. If statistics went back so far, the measure would almost certainly be at its highest level since the Great Depression.

In all, more than one out of every six workers — 17.5 percent — were unemployed or underemployed in October. The previous recorded high was 17.1 percent, in December 1982. ”

http://www.nytimes.com/2009/11/07/business/economy/07econ.html?partner=rss&emc=rss

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