Recovery? - U3 Unemployment at 10.0%, U6 Unemployment at 17.2% for November 2009

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The U3 unemployment rate finally fell to 10.0% for November 2009, down .2% from October 2009. U6 unemployment fell to a still astronomical 17.2% for November 2009, down from 17.5% in October 2009. There are quite a few fudge factors involved when calculating the U3 unemployment rate to make it more politically palatable.

For the complete Bureau of Labor Statistics monthly unemployment report click here.

This video provides a great explanation of the calculation (fudging) of official U3 unemployment rate. Note how the former airline pilot who works four hours per week at Home Depot is considered employed when calculating U3.




This is supposed to be a recovery? This is the 23 consecutive month of job losses. 17.2% is more than one out of every six American workers not earning an income that is normal for them. This is a depression era number! 17.2% equals or exceeds the unemployment rate in 1936, 1937, 1939 and 1940.

Year --- Unemployment (% labor force)

1933 --- 24.9
1934 --- 21.7
1935 --- 20.1
1936 --- 16.9
1937 --- 14.3
1938 --- 19.0
1939 --- 17.2
1940 --- 14.6
1941 --- 9.9
1942 --- 4.7
1943 --- 1.9
1944 --- 1.2
1945 --- 1.9

source: Historical Statistics US (1976) series D-86