Wow...so next time we see unemployment numbers its going to look really really bad. Might see a report of unemployment being 17%. That should help tank the markets.
thanks hippie, good find here's a great chart of the U-6 rate - topped or going up again ? http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=1994&toYear=2010 BLS's 'Alternative measures of labor underutilization' http://www.bls.gov/news.release/empsit.t15.htm
Not quite, many of those who were unemployed for over 99 weeks are already too discourage to be actively looking for work. If not actively looking, they won't be counted. It doesn't matter if they extend the upper limit to 5 or even 10 years.
Thanks for the links, Wallace. The U6 is over 20% here is in South Cal. U6 is now higher than 2008 or 2009.
nah, it will mean more QE3 and QE4!!!!!!!! Its all good, there is absolutely nothing to worry about with Bubble ben bernanke making these fine decisions.
dandxg, no but the chart's accurate, based on the BLS's data some more charts including US 'Mean Duration of Unemployment' http://en.wikipedia.org/wiki/Unemployment