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True US unemployment rate stands at 17.5%

• RawStory.com
According to figures released by the Department of Labor, the real marker of American unemployment stands at 17.5 percent -- a figure which takes into account under-employed workers and those who have not sought work in the last four weeks, according to a published report.

"If statistics went back so far, the measure would almost certainly be at its highest level since the Great Depression," reporter David Leonhardt wrote in Friday's edition of The New York Times.

The report continued: "In all, more than one out of every six workers — 17.5 percent — were unemployed or underemployed in October. The previous recorded high was 17.1 percent, in December 1982."

 

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