1. MEASURING UNEMPLOYMENT WHAT EXACTLY DO THE NUMBERS MEAN?

2. WHAT DOES 9.4% UNEMPLOYMENT MEAN? The unemployment rate measures the percentage of people who do not have jobs, who have actively looked for work in the preceding 4 weeks, and who are currently available for work. Discouraged workers, homemakers, the incarcerated, part-time who really want full-time, undocumented immigrants and soldiers aren’t counted.

3. OTHER WAYS TO MEASURE The U-6 number takes into consideration the discouraged and part-timers (underemployed). That number is currently nearing 16% The Employment-Population Ratio measures the percentage of American who are holding a job. The Unemployment rate surveys 60,000 households monthly. The Payroll numbers survey 150,000 businesses and government agencies. (Considered more accurate).

4. ARE THESE CURRENT NUMBERS DEVASTATING? The most recent number 9.4% is still lower than the peak of the early 80s recession, 10.8%. At the depths of the Great Depression unemployment hit 25% We are setting records for job losses but not as a percentage of the overall force. The length of the average workweek fell to its lowest level since 1964 Those out of work for more than 6 months constitute 24.2% of the unemployed, largest recorded share. 4:1 unemployed/opening.

5. THE VALUE OF AN EDUCATION The unemployment rate for workers over 25 w/o college is 10% For those w/o a high school diploma, 15.5% For those with a 4-year degree, 4.8% 4-year college graduates made 54% more, on average, then people who didn’t finish college, in 2008.