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    The Will to Create

    Entries in Cafe Hakek (1)

    Wednesday
    Feb092011

    Real Unemployment

    http://cafehayek.com/2011/02/on-the-reported-unemployment-rate.html

    I usually agree with Boudreaux, and I might be agreeing with him here. The current unemployment situation is unlike any we've experienced in a long time, and I believe it's important that we know the real unemployment situation and know how many people have dropped out of the market. Yes, the rate of 9% is based on the same factors that determined the rate of other years -- so maybe going forward, we should use different methods to determine the real rate. It would at least place more focus on the problem, so that decreases in the rate aren't seen as progress when in actuality the unemployment situation might be getting worse.