Real Unemployment Closer to 11 Percent
We’ve helped explain to our readers the difference between the typically advertised unemployment rate which is officially called the U-3 rate. We’ve also explained U-6 rate that is often shocking to see because is much higher than the advertised U-3 rate.
A Financial Times report states that if the workers that are no longer counted because they have dropped out of the workforce according to government figures were included in the unemployment rate. The U-3 number would actually be about 11% not 8%.