For a number of years I have been tracking the monthly unemployment data. That information is shown in the graph above. Included is monthly information back to April 2010. Prior to that I only picked up a few data points.
This graph shows the hit from the Great Recession and the painfully slow recovery which followed.
This discussion will be posted on several of my blogs.
Six different ways to measure unemployment
There are actually six different ways to calculated labor underutilization, all provided by the US Bureau of Labor Statistics. The economic devastation caused by the shutdown of the US economy means we need to start looking at these different indicators.
The above graph shows what is referred to as the U-3 and U-6 rates.
“What in the world are you talking about,” I hear you ask.