A quick outtake from our podcast interview with economist Howard Rosen:
"Today we learned that there are 12.5 million people who are unemployed, and we have another 8.6 million people who are working part-time because they cannot find full-time jobs. Now, you're talking about 20 million people in this country who are either unemployed or underemployed. I don't want to freak out people, but the unemployed number, we start talking about 15, 16 percent."
Rosen notes that the government typically revises unemployment figures. For now, the broadest measure of unemployment stands at 14.8 percent.
categories: Understanding The Crisis