Friday, June 07, 2013

A thought about unemployment data

Every month, the Bureau of Labor Statistics releases a flood of data about employment and unemployment in the previous month. And every month, the lion’s share of the attention goes to one figure — the unemployment rate — as an indicator of where the U.S. economy stands. Senior Pew Research Center writer Drew DeSilver explains.
The unemployment rate is based on the people who are out of work looking for a job versus those who are employed.

There is a problem when some of the people with jobs have part time jobs or jobs for which they are overqualified, but can not move up to more remunerative employment because of the current conditions.

A lot of young people are staying longer in school because of the job market, but might say that they would rather have a job but are not looking. Their investment in their own future may pay off in the future.

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