The Pain Factor

U-6 is the broadest measure of unemployment. This is what it feels like on the street, and this is how it was measured in 1930. U-3 is completely bogus. As if the rest of the people don't have to eat!

By that measure, we are within striking distance of GD1 (which topped out around 20%!) In fact, most rust-belt cities have already exceeded that number - Detroit being the prime example soon to be joined by such luminaries as Cleveland, Rochester, Buffalo, Phoenix, etc.

Please note that both numbers are accelerating not slowing.

This graph shows how many people are searching for part-time work for "economic reasons" (Ed: as opposed to what?)

The EE would like to take this opportunity to make a point about statistics. He hates the second graph because it doesn't take into account population growth. You really need to adjust by either (a) number of adults, or (b) number of households (economic units.)

That having been said, the pain is obvious.