Yow. Bad Unemployment.

The official unemployment rate is 8.1%. However, if you start counting all the people that want a job but gave up, all the people with part-time jobs that want a full-time job, all the people who dropped off the unemployment rolls because their unemployment benefits ran out, etc., you get a closer picture of what the unemployment rate is. ... [so] a far better approximation is 14.8%. Many economists expect the "official" number to hit 10%.

U-6-U3;
U3 = reported
U6 = all in (above)










--- Mish Shedlock, 3.27.09