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originally posted by: annoyedpharmacist
a reply to: carewemust
I read somewhere a while back, if you give up looking for work you arent counted in the stats. Like people who are content to collect welfare and not work pretty much forever, as far as I know they are not counted in the number. If you count under employed people, that number would be way over 95 million.
U-1, persons unemployed 15 weeks or longer, as a percent of the civilian labor force;
U-2, job losers and persons who completed temporary jobs, as a percent of the civilian labor force;
U-3, total unemployed, as a percent of the civilian labor force (this is the definition used for the official unemployment rate);
U-4, total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers;
U-5, total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers; and
U-6, total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers.
originally posted by: dreamingawake
The explanation I've seen explained goes as follows(correct me if I'm wrong); These unemployment rates do not count those who have dropped out of finding work. The ones counted are on unemployment.
Some say the real unemployment average, if the above was counted in as well, is probably somewhere around 20%.