EconomicGreenfield

Shortly after each monthly employment report I have been posting a continual series titled “3 Critical Unemployment Charts.”

Of course, there are many other employment charts that can be displayed as well.

For reference purposes, below are the U-3 and U-6 Unemployment Rate charts from a long-term historical perspective.  Both charts are from the St. Louis Fed site.  The U-3 measure is what is commonly referred to as the official unemployment rate; whereas the U-6 rate is officially (per Bureau of Labor Statistics) defined as:

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

Of note, many economic observers use the U-6 rate as a (closer) proxy of the actual unemployment rate rather than that depicted by the U-3 measure.

Here is the U-3 chart, currently showing a 8.3% unemployment rate:

(click on charts to enlarge images)(charts updated as of 2-3-12)

-

Here is the U-6 chart, currently showing a 15.1% unemployment rate:

_____

The Special Note summarizes my overall thoughts about our economic situation

SPX at 1344.90 as this post is written

Shortly after each monthly employment report I have been posting a continual series titled “3 Critical Unemployment Charts.”

Of course, there are many other employment charts that can be displayed as well.

For reference purposes, below are the U-3 and U-6 Unemployment Rate charts from a long-term historical perspective.  Both charts are from the St. Louis Fed site.  The U-3 measure is what is commonly referred to as the official unemployment rate; whereas the U-6 rate is officially (per Bureau of Labor Statistics) defined as:

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

Of note, many economic observers use the U-6 rate as a (closer) proxy of the actual unemployment rate rather than that depicted by the U-3 measure.

Here is the U-3 chart, currently showing a 8.5% unemployment rate:

(click on charts to enlarge images)(charts updated as of 1-6-12)

-

Here is the U-6 chart, currently showing a 15.2% unemployment rate:

_____

The Special Note summarizes my overall thoughts about our economic situation

SPX at 1277.81 as this post is written

Shortly after each monthly employment report I have been posting a continual series titled “3 Critical Unemployment Charts.”

Of course, there are many other employment charts that can be displayed as well.

For reference purposes, below are the U-3 and U-6 Unemployment Rate charts from a long-term historical perspective.  Both charts are from the St. Louis Fed site.  The U-3 measure is what is commonly referred to as the official unemployment rate; whereas the U-6 rate is officially (per Bureau of Labor Statistics) defined as:

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

Of note, many economic observers use the U-6 rate as a (closer) proxy of the actual unemployment rate rather than that depicted by the U-3 measure.

Here is the U-3 chart, currently showing a 8.6% unemployment rate:

(click on charts to enlarge images)(charts updated as of 12-2-11)

-

Here is the U-6 chart, currently showing a 15.6% unemployment rate:

_____

The Special Note summarizes my overall thoughts about our economic situation

SPX at 1244.28 as this post is written

Shortly after each monthly employment report I have been posting a continual series titled “3 Critical Unemployment Charts.”

Of course, there are many other employment charts that can be displayed as well.

For reference purposes, below are the U-3 and U-6 Unemployment Rate charts from a long-term historical perspective.  Both charts are from the St. Louis Fed site.  The U-3 measure is what is commonly referred to as the official unemployment rate; whereas the U-6 rate is officially (per Bureau of Labor Statistics) defined as:

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

Of note, many economic observers use the U-6 rate as a (closer) proxy of the actual unemployment rate rather than that depicted by the U-3 measure.

Here is the U-3 chart, currently showing a 9.0% unemployment rate:

(click on charts to enlarge images)(charts updated as of 11-4-11)

-

Here is the U-6 chart, currently showing a 16.2% unemployment rate:

_____

The Special Note summarizes my overall thoughts about our economic situation

SPX at 1253.23 as this post is written

Shortly after each monthly employment report I have been posting a continual series titled “3 Critical Unemployment Charts.”

Of course, there are many other employment charts that can be displayed as well.

For reference purposes, below are the U-3 and U-6 Unemployment Rate charts from a long-term historical perspective.  Both charts are from the St. Louis Fed site.  The U-3 measure is what is commonly referred to as the official unemployment rate; whereas the U-6 rate is officially (per Bureau of Labor Statistics) defined as:

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

Of note, many economic observers use the U-6 rate as a (closer) proxy of the actual unemployment rate rather than that depicted by the U-3 measure.

Here is the U-3 chart, showing a 9.1% unemployment rate:

(click on charts to enlarge images)(charts updated as of 10-7-11)

-

Here is the U-6 chart, showing a 16.5% unemployment rate:

_____

The Special Note summarizes my overall thoughts about our economic situation

SPX at 1155.46 as this post is written

On October 6 I wrote about my thoughts regarding Unemployment Statistics.  That link can be found here:

http://www.economicgreenfield.com/2009/10/06/a-note-about-unemployment-statistics/

I recently ran across the following from John Mauldin, found in his October 23 “Thoughts From The Frontline” newsletter:

“With 9.8% unemployment, 7% underemployed (temporary), and another 3-4% off the radar screen because they are so discouraged they are not even looking for jobs, and thus are not counted as unemployed (who made up these rules?) …”

There are numerous aspects of the Unemployment situation that I find highly noteworthy.  If one assumes that the “true” Unemployment Rate is 20%, as per above, that in itself is outsized from a historical perspective.  One would have to look back to the worst period(s) of The Great Depression to see such (stated) Unemployment Rates.

Another facet of note is that the stock market valuation seems incredibly high when compared to the Unemployment Rate.  While this dichotomy may last temporarily, I would expect a definite “resolution” to close the gap.