U6 unemployment numbers at a 17 yr high

[Small Biz Owner]

Unemployment is at a 17 year high for U6.

You would expect to get accurate information from those who post here. Not a lot of pie in the sky nonsense.

Source BLS :

[usaone]

Number were higher in the fall of 2009.

[Small Biz Owner]

And the fall of 2009 was 13 years ago?

[usaone]

According to your chart.

[Small Biz Owner]

Chart source is BLS. Please provide your source of information.

[usaone]

Looking at your chart we were higher in 2009.

[Small Biz Owner]

And they still have not fallen below 15%. A 17 year high for over 2 years now.

[usaone]

But better than 2009. Slow recovery continues.........

[Small Biz Owner]

U6 UNEMPLOYMENT rises again for 6th straight month

At highest level for all of 2011

U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force

JAN 2011: 16.2

FEB 2011: 16.1

MARCH 2011:15.7

APRIL 2011: 15.7

MAY 2011: 15.8

JUNE 2011: 16.1

JULY 2011: 16.1

AUG 2011: 16.2

SEP 2011:16.5

[Small Biz Owner]

wxyz I agree we never did exit the recession. At least not with economy under it's own power, without our governments bailout help.

[usaone]

Its comforting to know the economy was worse 17 years ago.

If we survived that recession, we will surely bounce back from this one.

[Small Biz Owner]

Its comforting to know the economy was worse 17 years ago.

Not comforting at all.

The economy was not worse 17 years ago. U6 Unemployment in 1994 was 12.0% Not 16.5% like it is now.

[usaone]

How about 91 92 and 93.

The recession ended at the end of 1991. 1994 would be 3 years after the recession ended.

[Small Biz Owner]

Its comforting to know the economy was worse 17 years ago.

USA1 you were the one who said the economy was worse 17 years ago.

Not me.

2011 - 17 yrs = 1994.

[Small Biz Owner]

How about 91 92 and 93.

The recession ended at the end of 1991.

How about it? Sure, here are the unemployment numbers from back then. Compare them to now.


1991-09-01 6.9
1991-10-01 7.0
1991-11-01 7.0
1991-12-01 7.3
1992-01-01 7.3
1992-02-01 7.4
1992-03-01 7.4
1992-04-01 7.4
1992-05-01 7.6
1992-06-01 7.8
1992-07-01 7.7
1992-08-01 7.6
1992-09-01 7.6
1992-10-01 7.3
1992-11-01 7.4
1992-12-01 7.4
1993-01-01 7.3
1993-02-01 7.1
1993-03-01 7.0
1993-04-01 7.1
1993-05-01 7.1
1993-06-01 7.0
1993-07-01 6.9
1993-08-01 6.8
1993-09-01 6.7
1993-10-01 6.8
1993-11-01 6.6
1993-12-01 6.5



2009-01-01 7.8
2009-02-01 8.2
2009-03-01 8.6
2009-04-01 8.9
2009-05-01 9.4
2009-06-01 9.5
2009-07-01 9.5
2009-08-01 9.7
2009-09-01 9.8
2009-10-01 10.1
2009-11-01 9.9
2009-12-01 9.9
2010-01-01 9.7
2010-02-01 9.7
2010-03-01 9.7
2010-04-01 9.8
2010-05-01 9.6
2010-06-01 9.5
2010-07-01 9.5
2010-08-01 9.6
2010-09-01 9.6
2010-10-01 9.7
2010-11-01 9.8
2010-12-01 9.4
2011-01-01 9.0
2011-02-01 8.9
2011-03-01 8.8
2011-04-01 9.0
2011-05-01 9.1
2011-06-01 9.2
2011-07-01 9.1
2011-08-01 9.1
2011-09-01 9.1




Quite a difference in unemployment rates. The last time unemployment was this bad was in 1982. 29 years ago

1982-01-01 8.6
1982-02-01 8.9
1982-03-01 9.0
1982-04-01 9.3
1982-05-01 9.4
1982-06-01 9.6
1982-07-01 9.8
1982-08-01 9.8
1982-09-01 10.1
1982-10-01 10.4
1982-11-01 10.8
1982-12-01 10.8
1983-01-01 10.4
1983-02-01 10.4
1983-03-01 10.3
1983-04-01 10.2
1983-05-01 10.1
1983-06-01 10.1
1983-07-01 9.4
1983-08-01 9.5
1983-09-01 9.2
1983-10-01 8.8
1983-11-01 8.5
1983-12-01 8.3

research.stlouisfed.org/fred2/data/UNRATE.txt




** BLS U6 numbers did not start until 1994

[usaone]

We worked our way through it then and we will now too.

[usaone]

We have been through all the unemployment numbers on my thread earlier this year.

Unemployment has been higher in the last 30 years and the % of employed has been worse.

Also the charts show that it takes 7 to 10 years to recover full employment. It hasnt even been two years since peak unemplyment.

Peak unemplyment was the end of 2009.

[Driftr]

SBO - Don't waste your time. When you argue with an idiot he'll bring you to his level and beat you with experience.

[usaone]

Japan is part of the reason we have had an uptick in U6. Hiring is already picking up.

Drftr don't let politics cloud your judgement.

[usaone]

Oct 7, 2011 12:56:32 GMT -5 Small Biz Owner said:

Its comforting to know the economy was worse 17 years ago.

USA1 you were the one who said the economy was worse 17 years ago.

Not me.

2011 - 17 yrs = 1994.

Your title says 17 year high.

[dancinmama]

Oct 7, 2011 14:13:56 GMT -5 usaone said:

We have been through all the unemployment numbers on my thread earlier this year.

Unemployment has been higher in the last 30 years and the % of employed has been worse.

Also the charts show that it takes 7 to 10 years to recover full employment. It hasnt even been two years since peak unemplyment.

Peak unemplyment was the end of 2009.

usaone: DH graduated from college in 1980. We can't ever remember a time when so many people were unemployed for so long, at the same time that the market was tanking, and the value of homes had sunk like a rock WHILE the national debt soared.

These are the worst economic times that we (DH and I) have ever seen in our lifetime. In the past things have been "bad" for a few months, but NEVER have we seen so many problems occurring at one time and lasting soooo long. I don't think we're going to see things back to the "way they were" for many years.

[usaone]

1970 to 1983 were about as bad as now.

[usaone]

Oct 7, 2011 14:13:56 GMT -5 usaone said:

We have been through all the unemployment numbers on my thread earlier this year.

Unemployment has been higher in the last 30 years and the % of employed has been worse.

Also the charts show that it takes 7 to 10 years to recover full employment. It hasnt even been two years since peak unemplyment.

Peak unemplyment was the end of 2009.

As I said above 7 to 10 years from peak unemployment to full employment.

slow recovery.

[bean29]

I graduated from H.S in 1982 Tech School 2 yr A.S in Accounting in 1984 and College in 1988 with a BS in Accounting. I don't remember it ever being this bad.

Employment is uncertain, people are afraid to buy b/c they may need to relocate but selling is uncertain. No one is sure housing is at bottom and they are requiring 20% down in many cases.

I remember the term Reganomics being used by the Middle class as a practical equivalent to a swear word.

I now work closely in Commercial Real Estate and Construction related industries. People in the industry say that even with the commercial banking lock up in the 80's things are worse today than then. Ditto for what went on in the early 90's.

We have had some staff reductions, company owner says if things don't improve, he will have to go further, this from someone who had a rep to almost never lay off staff. His hands are tied, the banks are scrutinizing the financial statements and questioning everything.

[usaone]

The banks should be scrutinizing everything. That's good news.

[Driftr]

Oct 7, 2011 21:04:42 GMT -5 usaone said:

Drftr don't let politics cloud your judgement.

Nothing clouds my judgement.

[Small Biz Owner]

1970 to 1983 were about as bad as now.

Yes USA1 but during that period the USA was still a creditor nation. NOT a debtor nation as we are this time.

Also we still had a positive balance of trade for a time back then. We have not had a trade surplus since, well ... check the chart ...

[usaone]

1975 we became a debtor nation.

[Small Biz Owner]

1975 we became a debtor nation.

Investopedia explains Creditor Nation

Creditor nations have invested more resources in other countries than the rest of the world has invested in them. To determine if a country is a creditor nation, one must account for the the nation's overall debt balance when calculating the balance of payments.

Creditor nations can sometimes lose their status and become debtor nations. This happened to the United States in 1988 when its balance of payments turned negative.

Read more: www.investopedia.com/terms/c/creditor_nation.asp#ixzz1btUz9YSt

USA1 You are only off the mark by 13 years. Not bad

[usaone]

It was 1975.