Chart of the Week: Augmented Unemployment Rate
The Augmented Unemployment Rate reflects the discouraged, the underemployed, the part timers. It provides a more helpful macro view of employees as potential retail consumers.
Real Unemployment?
Source: TheStreet.com
According to this government statistic, the actual unemployment rate is closer to 9%. This may be a more accurate measure of labor than using new unemployment claims.
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Quote of the Day:
"In all my years as a Fed watcher, I have never seen US central bankers take to the bully pulpit as they have in recent days. . . They smack of a carefully orchestrated campaign of economic cheerleading at a critical point in the US business cycle . . . While normally reticent monetary authorities are to be commended for taking a strong point of view, I fear they may live to regret this exuberance.
-Stephen Roach, Chief Economist and Director of Global Economic Analysis, Morgan Stanley
Monday, January 12, 2004 | 12:07 PM | Permalink
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» The Actual Unemployment Rate Is Closer To 9% from nyc99
The Big Picture: Chart of the Week: Augmented Unemployment RateChart of the Week: Augmented Unemployment Rate The Augmented Unemployment Rate reflects the discouraged, the underemployed, the part timers. It provides a more helpful macro view of employe... [Read More]
Tracked on Jan 13, 2004 6:40:05 PM
» The Misleading Jobless Rate from The Big Picture
David Leonhardt has an interesting article in today's NYT about a subject we have discussed around here ad nauseum: The Misleading Jobless Rate. Over the years, TBP has looked at the Augmented unemployment rate, as well as the NILF issue (Not In Labor ... [Read More]
Tracked on Mar 5, 2008 11:33:59 AM
» Jobless vs. Unemployed from The Big Picture
In today's NYT, Floyd Norris hits on a subject that has been a favorite of ours over the years: Finding the true measure of the economy's labor situation.The unemployment rate is low. The jobless rate is high.Those two seemingly contradictory statement... [Read More]
Tracked on Apr 12, 2008 9:24:19 AM
Comments
What on earth is the vertical scale on that graph?
6, 7, 7, 8, 8, 9, 10, 10
I can *almost* explain it by assuming that every other number N is actually N+0.5, and rounding for presentation makes the '.5's disappear. But neither rounding up nor rounding down explains why 9 only appears once.
Posted by: John Aspinall | Jan 13, 2004 11:18:08 AM
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