Remember that the “official” unemployment rate does not include those who are jobless but giving up looking or at working part-time and want full-time work. The official jobless rate jumped to 10.2 percent in October, evidently a surprise to those thought the economy had turned last quarter.
But the real unemployment rate skipped to 17.5 percent from 17 percent. At this rate we’ll hit one-fifth of nation’s workers out of work by Q2 of 2010.
