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Robert Mueller convenes grand jury in Russia investigation
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When we talk about unemployment, it is best to use precise language to avoid confusion. Who is counted as unemployed?
Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work. Actively looking for work may consist of any of the following activities: Contacting: An employer directly or having a job interview A public or private employment agency Friends or relatives A school or university employment center Sending out resumes or filling out applications Placing or answering advertisements Checking union or professional registers Some other means of active job search There are actually 6 unemployment measurements: U1 : Percentage of labor force unemployed 15 weeks or longer. U2 : Percentage of labor force who lost jobs or completed temporary work. U3 : Official unemployment rate per ILO definition. U4 : U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them. U5 : U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently. U6 : U5 + Part time workers who want to work full time, but cannot due to economic reasons. |
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