From the Desk of David Gratke

It was good news to see the ‘official’ unemployment report recede from 10.2% unemployment down to 10.00% for the month of November. However, I think the reader should follow the U.S. Federal Government’s measurement of under-utilization of employment known as the U-6 report.

The unemployment report that is discussed in the media is correct, but does not fully illuminate the plight of unemployment, or under employment, in our workforce. The U-6 figure states that for November 2009 17.2% of Americans are either unemployed or underemployed.

This is highly significant given that almost 70% of our economy is based upon consumer spending. Therefore, nearly one in five Americans faces tremendous challenges within their personal lives regarding loss of income and the attendant challenges this sadly brings.

For more information on the U-6 figures, read on..

http://www.bls.gov/news.release/empsit.t12.htm

This entry was posted on Monday, December 7th, 2009 at 9:12 am and is filed under Economy, Emotions, Green Shoots, Unemployment. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.