moving the goal posts
The U.S. economy added 157,000 new jobs in January and the unemployment rate ticked up to 7.9%, the Labor Department said Friday.
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
NOTE: Persons marginally attached to the labor force are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the past 12 months. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not currently looking for work. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule. Updated population controls are introduced annually with the release of January data.
U-6 January 2013 “Not seasonally adjusted” – 15.4
“seasonally adjusted”: – 14.4
…This continued explosion of people not in the labor force should be tremendously concerning as it represents an obstacle for the government to ever balance the budget without drastically raising taxes on those still working.