25 million underemployed. Can we call it "a depression" yet?

5.1 million U.S. jobs lost so far.

Another 650,000 to 750,000 jobs vanishing every month.

8.5% unemployment.

But the labor market is actually far sicker:

Nearly 16 percent of the people in the United States are now looking for a job, working part-time because they cannot find full-time work, or are out of work and not actively looking, the government said.

“We’re closing in on 25 million people that are underemployed in one way or another,” said Mark Zandi, founder and chief economist of Moody’s Economy.com.

Posted by James on Friday, April 03, 2009