UNEMPLOYMENT UPDATE

We have seen that jobs openings are plentiful, though they are not always in the areas of strongest unemployment and, sadly, many of the unemployed are not qualified for many of the job openings (http://stopcontinentaldrift.blogspot.com/2015/09/jobs-status-as-of-july.html).

Though the "main" unemployment rate looks looks pretty good at 5.1% (preliminary for August 2015), the total unemployment rate that includes those not looking for work and the underemployed (U-6) at 10.3% is still above the 2008 low of 7.9% in December of 2006.  Yet, this rate is remarkably below its high of 17.1% in December of 2009 and is dropping rapidly, about 1.2%/yr.*  If the current trend continues the U-6 should drop to the 2006 low in about  2 yrs.  (The figures in the source article are interactive from which the figures mentioned herein are taken.)

(Click on figures to enlarge)

http://www.cnbc.com/2015/09/04/-the-real-unemployment-rate.html

UNEMPLOYMENT-UNDEREMPLOYMENT RATE (U-6)

The unemployment-underemployment rate (U-6) dropped below 12% (11.8%) in September of 2014.*  The recent "all time high" was 17.2 in April of 2010 up from 17.1 the month before and the final three months of of 2009.

The recent "all time low" for U-6 was April 2006 at 8.1%.

(Click on the figure to enlarge)

Note that U-6 always seems to be more than double the unemployment rate.  In fact the two measures seem to be converging a bit to my eye.

That things are improving is inescapable though the U-6 may be still unacceptably high.

A report on September employment with lots of figures is at: http://www.dailykos.com/story/2014/10/03/1333484/-Government-reports-248-000-new-jobs-in-September-Revisions-for-July-and-August-add-69-000-more?detail=email. Note that

(Click on the figure to enlarge)

The August employment numbers were increased 142,000 to 180,000.  July numbers were increased from 212,00 to 243,000.

* http://www.cnbc.com/id/102055126?trknav=homestack:topnews:2