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Contrary to commonly held opinion, the unemployment rate isn't based on who's collecting unemployment. It's based on people who for the following three criteri
by zuminator 4y ago
Contrary to commonly held opinion, the unemployment rate isn't based on who's collecting unemployment.
It's based on people who for the following three criteria. They: 1) don't have a job, 2) have looked for a job within the previous four weeks, and 3) are available to work at the present time.
- chimeracoder 4y ago> It's based on people who for the following three criteria. They: 1) don't have a job, 2) have looked for a job within the previous four weeks, and 3) are available to work at the present time. You're correct. To add to that, in some cases (such as layoffs), even the second criteria can be relaxed. For example, if a person is laid off but expected to be recalled, they don't need to have job-seeking activity to be considered unemployed for statistical purposes. That's just one example.