Tuesday, February 7, 2017


The unemployment rate is the percentage of unemployed people in relation to the universe of people who either have or are actively looking for a job- i.e. the labor force. An unemployment rate of 4.9% means that 95.1% of people who are looking for jobs have them.

People who give up looking for work because they think things are hopeless are called discouraged workers and, added to the unemployed, they are 5.2%

People who aren’t actively looking for work but would take a job if it presented itself  are called marginally attached workers and , added to the above,  they are 6.0%

People who are working part time because they can’t find a full-time job added to all of the above make 9.7%

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