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Given that unemployment is higher than when the economic downturn began - many have not been hired back. In the US, it's important to realize that the 'official
by locopati 14y ago
Given that unemployment is higher than when the economic downturn began - many have not been hired back. In the US, it's important to realize that the 'official' U3 unemployment rate does not paint the whole picture. The U6 rate considers those worker who have stopped looking for work because there's no work to be had and includes part-time workers. Furthermore, there's a large difference in unemployment between college educated workers and high-school educated workers. In addition, those that have been hired elsewhere are generally hired back for lower wages or less secure positions.