4 ms·
> First is it does not account for people who have dropped out of participating in the labour market There are alternative measures to U3 (the official unempl
by causalmodels 7y ago
> First is it does not account for people who have dropped out of participating in the labour market
There are alternative measures to U3 (the official unemployment rate). The U5 and U6 measures of unemployment are designed to capture discouraged workers.
- rsanek 7y agoPlus, all of the published rates are extremely highly correlated. It can be hard to agree on what number is "right", but when one rate is relatively low, so are all the other rates.