10.2% Time to man up.

[mag minnow]

The U.S. jobless rate jumped up 0.4 percentage point to 10.2% in October, the highest level since April 1983. The government’s broader measure of unemployment shot up even more, rising half a point to 17.5%.
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.
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 10.2% unemployment rate is calculated based on people who are without jobs, who are available to work and who have actively sought work in the prior four weeks. The “actively looking for work” definition is fairly broad, including people who contacted an employer, employment agency, job center or friends; sent out resumes or filled out applications; or answered or placed ads, among other things.
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.


http://blogs.wsj.com/economics/2009/...rate-hits-175/

[JackStraw]

He's been in office for ONE year. Wait until we get around to the 2012 election and the economy has been humming for a couple of years and unemployment is back to normal....4 more years. The level of intelligence with some of these comments is hysterical...no, there really is no WORD for it.

[mag minnow]

I really hope so Jack...

[Santiago II]

Originally Posted by JackStraw

He's been in office for ONE year. Wait until we get around to the 2012 election and the economy has been humming for a couple of years and unemployment is back to normal....4 more years. The level of intelligence with some of these comments is hysterical...no, there really is no WORD for it.

Can we quote you on this?

[mag minnow]

The "marginally attached workers" are waiting...

[JackStraw]

Quote away! I will GUARANTEE you 4 more years.....he's already increased everyone's 401K by 40-50% in his first year. Yeah, I know, he has everything to do with unemployment and nothing to do with the market being up 50%.....blah, blah, blah..if it makes you feel better, just blame him for everything.

I mean, just look at the weakfish situation! Obama. My Phillies lost to the evil Yankees. Obama again. Sea Bass shutdown. He just never stops. We're all doomed. What most don't know is he's hell bent on the destruction of the U.S from within.....Don't you see how the Muslim population has grown in our cities since last November...O B A M A.

[ken r]

Originally Posted by JackStraw

He's been in office for ONE year. Wait until we get around to the 2012 election and the economy has been humming for a couple of years and unemployment is back to normal....4 more years. The level of intelligence with some of these comments is hysterical...no, there really is no WORD for it.

You drank a whole gallon of coolaide today, huh?

[Eddy]

Originally Posted by JackStraw

Quote away! I will GUARANTEE you 4 more years.....he's already increased everyone's 401K by 40-50% in his first year. Yeah, I know, he has everything to do with unemployment and nothing to do with the market being up 50%.....blah, blah, blah..if it makes you feel better, just blame him for everything.

I mean, just look at the weakfish situation! Obama. My Phillies lost to the evil Yankees. Obama again. Sea Bass shutdown. He just never stops. We're all doomed. What most don't know is he's hell bent on the destruction of the U.S from within.....Don't you see how the Muslim population has grown in our cities since last November...O B A M A.

increased 401k by 50%?
That's easy to do when many 401ks went to close to nothing.

[mag minnow]

"he's already increased everyone's 401K by 40-50% in his first year".

That's a statement which you can not back up...Please let me know how you know how much my 401K went up this year.

Thanks...