This morning's news that U.S. unemployment has hit 13.7 million, pushing the rate to 8.9 percent, tells only half the story of this recession.

The total number of Americans who are not working full-time but ought to be is actually about 22 million, or 15.8 percent, according to the Bureau of Labor Statistics. Who are those other 8.3 million Americans? Call them the unofficially unemployed... the Bureau releases the monthly unemployment figure, it does not include many out-of-work Americans.

Instead, as The Ticker reported here in December: "In the case of the monthly jobs report, the Labor Department contacts 60,000 households to determine the unemployment picture for the entire workforce, which consists of about 154 million Americans."

The problem with this methodology is that it does not include millions of Americans who are not working full-time who ought to be. Those, in the bureau's words, who are "marginally attached to the labor force."
The Ticker - Actual U.S. Unemployment: 15.8% - Economy Watch