This statistic is largely under-reported but easily found at the US Bureau of Labor Statistics. Go here and access U6 to see the data. The point being, that the rise of the US Consumer requires confidence. And if you are marginally attached, discouraged, or under-employed you are less like to take consumer risk. Unless of course, you are borrowing just to survive. Then consumer risk becomes credit risk.
Chart was originally posted here. Click on graph to enlarge.
If you look at the number of people unemployed for 15 weeks or more that figure is considerably lower but steadily increasing. That certainly tells something!
ReplyDelete