The teen unemployment rate went up in January to nearly 21 percent, three times the supposed national unemployment rate of 6.6 percent.
Herman Cain makes a distinction between the U3 unemployment rate, which is always reported and espoused by President Obama, and the U6 unemployment rate, which is never reported.
U3: number of people without jobs that have actively looked for work within the past four weeks.
U6: is the U3 + number of “discouraged workers”, or those who have stopped looking for work because current economic conditions make them believe that no work is available for them + other “marginally attached workers”, or “loosely attached workers”, or those who “would like” and are able to work, but have not looked for work recently + Part-time workers who want to work full-time, but cannot due to economic reasons (underemployment).
The president loves the U3 because it only tells a “smidgen” of the story.