Friday, June 5, 2009

1 in 6 American Workers Unemployed or Underemployed

The Bureau of Labor Statistics today reports that the unemployment rate was at 9.4%. This is the first time in 27 years that the unemployment rate has been since August 1983.
Click image for a larger chart

The U6 unemployment rate, which includes people working part-time jobs even though they'd rather be working full time, has risen by 0.6 percentage points in the month to 16.4%---That means that 1 out of every 6 American workers are either out-of-work or working part time jobs even though they want to work full time.

Since the start of the recession in December 2007, the number of Americans unemployed have increased by 7 million! You can read the entire jobs report here.

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