4 ms·
Is this because the denominator for the unemployment rate (but not the employment rate) is specifically people looking for work?
by oconnor663 6y ago
Is this because the denominator for the unemployment rate (but not the employment rate) is specifically people looking for work?
- guerby 6y agoYes, unemployment is 1 - employed / (employed + looking for work), "looking for work" is really hard to measure objectively (changing a word or order of words in the question asked in the survey change it by quite a bit). employed in a given group / total population of a given group is more objective. There's still a bit of hacking of this one with for example "non institutionalized population" excluding people in jail (not negligible in the USA) https://www.census.gov/glossary/#term_Civiliannoninstitutionalizedpopulation https://www.census.gov/glossary/#term_Civiliannoninstitution... What baffles me is that there's no deep study of the "inactive" population, while the number of inactive has been raising continously for a few decades now in the USA, yellow line here: http://guerby.org/images/bls-men-25-54-200912.png http://guerby.org/images/bls-men-25-54-200912.png Understanding what the inactive are doing is probably key to understand current time (un)employment.