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Stories of Wonder and Amazement: Real unemployment vs reported unemployment

Friday, February 6, 2009

Real unemployment vs reported unemployment

So, numbers officially out today, 598k jobs lost in January, unemployment up to 7.6%.  Gee, 7.6%, that sounds bad, but not THAT bad, right?  Wrong.  When you look at historical graphs of unemployment, it's not stated that how unemployment is measured has changed over time, you can mostly thank Ronald Reagan for this.  Regardless, if you want to see a more realistic measure of true unemployment, check out table a-12 "alternate measures of unemployment" currently listed at 13.9%

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