Here is a chart created by Shadow Government Statistics (SGS) presenting an alternate measure to the official unemployment statistics. According to the website,
The SGS Alternate unemployment figure is according to the website then about 23% as of 7 September 2012, or about three times higher than the Official (U3) rate depicted in the same chart.
The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.
The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.
The SGS Alternate unemployment figure is according to the website then about 23% as of 7 September 2012, or about three times higher than the Official (U3) rate depicted in the same chart.
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