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Sunday, November 4, 2012
CNS Pushes Bogus 'Real Unemployment Rate'
Topic: Free Congress Foundation

A Nov. 2 article by Matt Cover carries the headline "Real Unemployment Rate 14.6 Percent in October" and claims:

The so-called real unemployment rate fell slightly in October, going from 14.7 percent to 14.6 percent, according to a report from the Bureau of Labor Statistics Friday.

This rate is a more comprehensive picture of those who are unemployed or underemployed.

In fact, the U-6 rate Cover is referring to is not an "unemployment" rate, real or otherwise -- as Cover himself admits, it also includes those employed part time who want full-time work.

While Cover insists the U-6 rate "is considered a more comprehensive measure of the employment pictures," even the conservative Heritage Foundation admits the the "chief utility" of the U-6 rate is "shock value," and that " the significance of the U-5 and U-6 numbers is far from clear -- and surely not as great as many commentators recklessly suggest."

Posted by Terry K. at 11:49 AM EDT

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