The Augmented Unemployment Rate reflects the discouraged, the underemployed, the part timers. It provides a more helpful macro view of employees as potential retail consumers.
According to this government statistic, the actual unemployment rate is closer to 9%. This may be a more accurate measure of labor than using new unemployment claims.
Complacency Is Making Contrarians Nervous
boom, bust and ballplayers
41 Months of Factory Layoffs
Rupert’s World: Get ready for a fierce new media war
The Silver Lining Economy
The No-Bang, All-Whimper Recovery
Quote of the Day:
“In all my years as a Fed watcher, I have never seen US central bankers take to the bully pulpit as they have in recent days. . . They smack of a carefully orchestrated campaign of economic cheerleading at a critical point in the US business cycle . . . While normally reticent monetary authorities are to be commended for taking a strong point of view, I fear they may live to regret this exuberance.
–Stephen Roach, Chief Economist and Director of Global Economic Analysis, Morgan Stanley