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Reply #5: Official unemployment only counts those who are looking for work. [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

Dr Morbius

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 10:00 AM
Response to Original message

5. Official unemployment only counts those who are looking for work.

Many millions more have given up looking. The way unemployment actually increases with job growth is that people who previously gave up are now hopeful, and are looking for work. More people in the work force means a higher percentage of "officially" unemployed.

A much better and more useful tool is the unemployed/underemployed statistic. That one shows one in six Americans, give or take, need a better job than they have or need a job, period. I don't know when it comes out, but it takes longer for the feds to figure it out every month.

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