Dec. Job #s: Even Worse than They Look

Bad as the December unemployment numbers are, if you include temporary workers and discouraged workers, the situation is far worse. Hat-tip to Larry Peterson for the links that  follow the WSJ excerpt.

Jobless Rate Surges to 7.2% in December

Read the rest of the article.

From Across the Curve:

HSBC on the Labor Report

And this from Brad DeLong:

And U-6--unemployed plus discouraged workers plus unable to fond a full-time job--is now at 13.5% of the labor force--and BLS "discouraged workers" are a big undercount of the concept...