5 ms·
I don't think that's true - they're using a harmonized rate that is effectively measured the same way. Here's the original publication that the author is respon
by lbarrow 8y ago
I don't think that's true - they're using a harmonized rate that is effectively measured the same way. Here's the original publication that the author is responding to:
http://cepr.net/documents/publications/US-EU-UR-2009-05.pdf http://cepr.net/documents/publications/US-EU-UR-2009-05.pdf
It'd be pretty silly of two professional economists to make a bet about two numbers that are measured differently. They know about U3 vs U6.
Also, I don't think anyone has changed their definitions of unemployment recently. BLS publishes all of them and the official rate has been U3 for like, 40 years or something.