The comprehensive gauge of labor underutilization, known as the “U-6″ for its data classification by the Labor Department, accounts for people who have stopped looking for work or who can’t find full-time jobs. Its continuing divergence from the official rate (the “U-3″ unemployment measure) indicates the job market has a long way to go before growth in the economy translates into relief for workers.So fuck that 10.2% number tossed out there today..the real number is a lot friggin uglier.
The U-6 rate is now the highest since the Labor Department started this particular data series in 1994. It likely isn’t as bad as it was in the 1980s, when the headline unemployment rate hit 10.8%. U-6 only goes back to 1994, but a discontinued measure has a longer history. That old U-6 measure peaked at 14.3% in 1982. Through some calculation, a comparable measure can be determined in the current report. Under the old U-6 methodology, the October rate would be 14%, the highest rate since 1982, but still below the peak.
The U-6 figure includes everyone in the official rate plus “marginally attached workers” — those who are neither working nor looking for work, but say they want a job and have looked for work recently; and people who are employed part-time for economic reasons, meaning they want full-time work but took a part-time schedule instead because that’s all they could find.
I finally went to the damn Doc's today. As Dave told me in an email yesterday..there is little if anything a doctor can do for what ails moi at this point. Gotta be patient...well, I ain't. So I whined and got some yummy cough med with codeine in it.
At least I haven't been able to smoke a cigarette in five days. Nap time for my sick ass...