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Wednesday, March 23, 2011

The real unemployment

Unemployment is particularly hard to measure. What to do with those who are unemployed but not looking for a job? Are they "resting" or simply gave up looking after trying so hard?
How about those who are working a job they don't want (perhaps waitresses and bartenders) but need the money? How do we count those who are working part time but would like more hours?
The official un-employment figure, around 9 percent, simply ignores them

The latest Gallup poll published in IBD shows a more comprehensive picture. If we include them, unemployment is closer to 20% than to 9%.

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