Friday, January 10, 2014

Unemployed and underemployed but want a job now

  - by New Deal democrat

Here is the measure of people who aren't in the labor force because they aren't looking for a job, but say they "want a job now" (red) added to the unemployment rate (blue) and also (orange) added to the underemployment rate (green), current through this morning's employment report for December 2013:

Photobucket Pictures, Images and Photos

I believe this a far more accurate way to look at the issue, as compared with EPI's "missing workers" estimate.

The numbers aren't pretty now, but note that they also weren't very pretty even before the recession.