Government’s broader unemployment measure still at 17%
The government reports that the unemployment rate remained stuck at 9.6 percent in October. The government’s broader measure of unemployment, sometimes referred to “true unemployment,” is still at 17 percent. There was drop of 318,000 in the number of people employed part time but who would prefer full-time work. The drop resulted in a slight decrease in true unemployment from 17.1 to 17.0 percent.