Why "Unemployment" Does Not Really Tell Us Employment
by Noah on Jun 4, 2014 | Views: 332 | Score: 2
| Reported Unemployment Rate | Unemployment Rate with Unaccounted Job-Seekers | |
|---|---|---|
| April 2007 | 4.5 | 4.9 |
| 2008 | 5 | 5 |
| 2009 | 9 | 9.4 |
| 2010 | 9.9 | 11 |
| 2011 | 9.1 | 11.4 |
| 2012 | 8.2 | 10.9 |
| 2013 | 7.5 | 10.5 |
| April 2014 | 6.3 | 9.9 |
Share:
of
The unemployment-rate calculates the number of Americans working or actively seeking employment. However, as there are nearly three job-seekers for every available job, thousands have given up looking for work-- even though they'd like a job. As such, the official unemployment-rate has declined significantly more than the real un- or under-employment in the country.