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| Obama’s Unemployment Numbers |
The unemployment numbers come out today. The state unemployment folks deliver the news (good news I hope) this morning at 10am. I’ve asked the nice folks at Work Source Oregon (the unemployment department) a few simple questions to address at their news conference. I’ve been told they’ll answer them. Here they are:
Please characterize the unemployment situation in Oregon. Is it worse than the recession of the 80’s? Better?
How many people were on the sidelines or had given up looking for work in the 80’s versus now?
Explain what the U-6 unemployment rate is and what that number is in Oregon. Is it an improvement?
After construction, what job sectors have seen the biggest hit in Oregon?
The “U-6” unemployment stat is the one that tells you the real story of unemployment. The statistic, which was 18.7% from the third quarter of 2010 through second quarter of 2011 averages (here):
U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force
It includes people who have given up or settled for a part time job or simply don’t have one.
The unemployment stats most widely used are the U-3 numbers. In June Oregon’s number was 9.4%. That stat is defined as:
U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate)
Tell ’em where you saw it. Http://www.victoriataft.com
