Saturday, November 7, 2009
So here is the latest U-6, unadjusted 16.3% which becomes a seasonally adjusted 17.5%
Now we examine the year over year change in the unadjusted U-6, and while the rate of change is declining from the peak (due to the elevated prior year base now that we are almost two years into this recession) it is still in excess of the peak from the prior recession. Also, recall that the absolute level of U-6 unemployment is still increasing year over year until the graph goes below the 0% line.
The spread between U-3 and U-6 remains elevated.