A all 5.5% rate of unemployment is half of one percentage point below what economist call, “The Natural Rate of Unemployment.” Therefore, based on the unique regarding BLSdata, employment in the U.S.might remain visible as great news, properly? No, wrong — because the information selected include only individuals who were actively seeking a job; contacted potential employers; were job interview; sent out resumes, responded job advertisements, etc., ahead of four weeks before reporting for social security amazing benefits. Thus, selecting this particular sounding the unemployed (U1in table below), eliminates millions of unemployed persons; e.g., persons who are discourage and gave up looking for the job the actual working part-time, but seeking a full-time job.
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The Bureau of Labor Statistics issues a report each month that shows unemployment data using six different measures of “Labor Underutilization.” A reproduction this report is shown beneath. It may provide some sort of understanding of alternative measures in the reporting of unemployment data and can help eliminate “Economic Witchcraft.” For a other hand . it might contribute there.
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