Unemployment rate misleading, analysts say

WASHINGTON, April 2 (UPI) -- The official unemployment rate in the United States is deceivingly low since it doesn't reflect some categories of underemployed workers, labor analysts said.

The official unemployment rate for January was 4.8 percent but the figure overshadows other problems in the labor market, CNNMoney.com reported Wednesday.

The number doesn't count those who have given up looking for work, those limited to part-time jobs and those working as independent contractors.

The number of people forced into non-farm part-time jobs has grown by 565,000 from February 2007, the report said. In addition, 161,000 more workers in February held two part-time jobs compared with January, a "sign we're in a recession," Chief Economist for Standard and Poor's David Wyss told CNNMoney.com.

Temporary jobs have also declined about 100,000 from a year ago.

Commissioner of the Bureau of Labor Statistics Keith Hall told members of Congress last month that the unemployment rate, taken broadly, would be 8.9 percent in February, up from 8.1 percent a year ago.

"You do see indicators of a softer market than just the raw numbers," Bill DeMario, chief operating officer of Ajilon Professional Staffing, told CNNMoney.com.