Author Topic: Worst Annual Job Losses (Read 1644 times)

ਅਮਨ ਪੰਨੂ · « **on:** January 09, 2009, 02:00:23 PM »

The job market is worse than you think
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The reported unemployment rate spiked to its highest level in more than 15 years. But some think the 'true' rate is really much higher.

NEW YORK (CNNMoney.com) -- The unemployment rate rose to 7.2% in December, the highest it has been since 1993. That's obviously not good news.

But the job market might be in even worse shape than this number suggests. There's a growing number of market experts who think that the government's employment statistics don't accurately paint the true picture of the job market.

In addition, many loyal readers of this column have expressed in both e-mails to me and comments in our Talkback section that they are frustrated with what they think is an intentionally distorted view of the job market.

Now to be fair, the government also does report a so-called underemployment rate, which includes some part-time workers as well as people who have given up looking for work during the past year. That figure is now 13.5%.

Author Topic: Worst Annual Job Losses (Read 1644 times)

ਅਮਨ ਪੰਨੂ

Worst Annual Job Losses

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