The country got a bit of good news late last week when the unemployment rate dropped to 10%, with the economy losing only 11,000 jobs and revised numbers for September and October lower than originally estimated.
While the news was able to push stocks up a bit for the week as more investors see this as a recovery, there's a bit of skepticism that the rate is accurate.
Our friends over at Mint have put together a video showing the "real" unemployment rate — which includes the underemployed, people not eligible for unemployment benefits, and more.
It's a depressing video, but worth watching. Take a look at it now.
About the author: Jason is the author of Automatic Finances: 17 Days to Your Financial Freedom, a guide to automated money management. He started investing thanks to a free lunch, and after finding out how he was getting the short end of the stick, he sought out how to do it right. More »
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Agreed that the rate is probably much higher, but seeing the drop (relatively speaking) at least shows that we are potentially improving. Now, seeing it consistently over the next few months will be more positive than just this month…
Exactly. And considering the number was way lower than originally expected, it's a good sign.