Real Unemployment rate or "underemployment" rate rising sharply per Gallup

Gallup has found a sharp increase in the real unemployment rate.  They call it the underployment rate.  Gallup classifies American workers as underemployed if they are either unemployed or working part time but wanting full-time work.  Yes, that is roughly one in five workers in the United States. 

At least some of that can be explained by the post Christmas retail layoffs. 

The increase in Gallup's U.S. unemployment rate and the worsening in the percentage of part-time workers wanting full-time work combined to raise underemployment to 19.0% in December from 18.5% in mid-December and 17.2% at the end of November.   Via Gallup:

Comments

  1. Many time in news we hear that U.S. unemployment rate is hovering near ten percent. This is actually very very high. Because historically in the U.S., the unemployment rate was around five percent-about half as much. Many reasons for this are recession, competitors and new technologies.

    Unemployment rate

    ReplyDelete
  2. Ten percent is most high because it is not the true picture of all people who can't get a job. Many of those who can't get a job give up altogether. Others take part time. Others get a job which is way below their skillset.

    All three of these people are not included in the real unemployment rate. And you are right. ten percent is high.

    ReplyDelete

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