Live

Watch CBSN Live

Unemployed and Uncounted

If things are so bad in the economy, why aren't more people out of work? Maybe they are, argues Daniel Gross, writing in his Moneybox column on Slate.com.

Gross looks at some of the flaws in the unemployment figures -- they don't count people who've given up looking for work, for instance. So he walks through some of the alternate measures that the Bureau of Labor Statistics uses to track unemployment, and then highlights "U6," which he calls "the summa of job angst, a shorthand tally for the aggregate of job-related frustration."

U6 measures underutilized workers in the economy. That number, Gross reports, is at an all-time high since the government began tracking it in 1994. And it suggests unemployment is not at 6.1 percent but really at about 11 percent -- exceeding the 10 percent number that is thrown out there as a worst-case scenario.

The workforce is already decimated. So, here are some more cheerful links, reminders of what to do:

Here's a link to BNET's guide to beating a recession.
Top 5 Recession-proof jobs.
How to save your job.

View CBS News In