In response to:

Forward: Unemployment Jumps Up to 7.9 Percent

beowulfe Wrote: Feb 01, 2013 11:35 AM
Ronald Reagan Fan Wrote: 14 minutes ago (11:18 AM) The 15.5% comes from calculating the rate the same way it was under Bush 2 and predecessors. ------------ This is actually not true. The methodology for calculating the unemployment rate has not changed all that much in the past few decades. That being said, if we were to assume the same labor participation rate as we saw during the Bush years, yes, the unemployment rate would be significantly higher. And if we were to use the same methodology used during the Great Depression, the unemployment rate would be about 15%.

The Bureau of Labor Statistics has released the latest unemployment numbers for January. The unemployment rate has jumped back up to 7.9 percent with just 157,000 jobs being added to the economy. The number of unemployed and under-employed persons still sits at an alarming number.

The number of unemployed persons, at 12.3 million, was little changed in January. The
unemployment rate was 7.9 percent and has been at or near that level since September 2012.

In January, the number of long-term unemployed (those jobless for 27 weeks or more) was
about unchanged...

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