Quote:
Originally Posted by alexamenos
|
U is just a standard measure of the underlying phenom of the "level of employment" (actually, "U3", apparently). It is a standardization, not much more or less.... the question here is whether THIS standardized index misses some extra dynamics in an downturn versus a broader measure (one that includes discouraged workers, for instance). Ex ante I would SUSPECT that it WOULD catch something more, but an eyeball glance at teh two time series makes tham LOOK pretty damn consistent with each other (but eyeballs are often deceiving)
U3 (standard measure of unemployment) <<roughly 10% now>>
http://portalseven.com/employment/unemployment_rate.jsp
U6 (which includes discouraged workers) <<roughly 17% now>>
http://portalseven.com/employment/un...nt_rate_u6.jsp