The real unemployment rate is 17%. The Atlanta Fed has just compared the number of employees in part-time employment with that of each recession since 1970. And this time it is different. Per the Atlanta Fed: "The broadest measure of unemployment, which includes all those working part-time for economic reasons as well as workers who have looked for work within the last 12 months, increased to 17% in September. The official unemployment rate (9.8%) excludes part-time workers as well as anyone who has not looked for work in over four weeks....Moreover, for the employed, average weekly hours remained low, declining 0.1 points to 33 hours in September." Here's the chart:
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