what is the unemployment rate?

With new job losses, it’s at 8.1%. If you include people who have stopped looking, we’re talking 9.3%. If we’re talking about people who work part time but want full time work, we’re talking 14.8%. What else am I missing? We could count the prison population, bumping it up to 16%… Other things? This graph is handy for understanding how the government calculates it’s stats:

unemploymentratemint2

I found it here. And it refers to stats before the February losses were released.

One thought on “what is the unemployment rate?”

  1. Shakha: That’s a great point. Among policy wonks, people make distinctions between different unemployment measurements. Those who know the difference between the publicaly reported number and the other measurements know that we’re in deep trouble. Fabio

    Like

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