The Real Underemployment Figure Is 22.5%

Ever get the feeling that things are a lot worse than everyone is letting on?

Officially the unemployment rate is 9.6%, but there’s a lot more people out of work than that. If you add on top of that people who have dropped out of the labor-force, as well as people who work part-time but would prefer full-time if they could get it, AND people who have been out of work for over a year, as economist John Williams has done, you get a whopping 22.5% underemployment rate for September.

With hiring in the pits, now is a good time to start on that side business you’ve been dreaming about. You can do it by just setting aside one hour a day to work for yourself.

Alternate Unemployment Charts [Shadowstats via Barron’s]

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