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AFAIK, everyone only counts those who are actively looking for work but can't find it: that's what the "unemployment rate" means. http://en.wikipedia.org/wiki/
by neilc 18y ago
AFAIK, everyone only counts those who are actively looking for work but can't find it: that's what the "unemployment rate" means.
http://en.wikipedia.org/wiki/Unemployment http://en.wikipedia.org/wiki/Unemployment
- ivankirigin 18y agoNo, people that don't have jobs but aren't seeking them are not counted in the US.
- neilc 18y agoRight, but they aren't typically counted anywhere else, either. Did you read even the first sentence of the WP article?
- ivankirigin 18y agoThe first sentence doesn't address differences in measurement, but I appreciate the snark. I've read that Europe measures more than those that are seeking, meaning they overestimate (or the US underestimates) unemployment. Scrolling down, the EU measure looks like the US measure, so maybe things changed since I heavily head econ blogs. Perhaps you can read more than the first line of some other resources and report back on the change?