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US Department of Labor: "Real" unemployment is 16.5%


CofCC.org News Team

Over the past several decades the Federal government has changed or altered the definition of “unemployment” multiple times to keep the official government unemployment figure low.

However, the US Department of Labor, Bureau of Labor Statistics still keeps track of unemployment using a definition of unemployment similar to what was used during the 1950’s and earlier.

While the official figure is 9.1%, the new “real unemployment” figure released by the Department of Labor U-6 report is 16.5%. Many private firms have also published their own estimates between 18-20%.

The U-6 figure includes “marginally attached workers,” meaning the seriously underemployed.

The U-6 report has been published since 1964, after unemployed had been removed from the regular unemployed figures. The report monitors the average number of hours in a work week. The new report reveals this shocking figure. The average work week is only 33 hours. The lowest of record in the history of the U-6 report.