Wednesday, May 11, 2011

Inaccurate Unemployment Measures

Unemployment numbers can be very misleading. They can be adjusted after publication because of errors and short-term occurrences. And other considerations must be part of the analysis.

Such as job creation. Look at that alongside the unemployment figure.

Other factors must always be considered as well: The length of time folks are unemployed. The number of those taking unpaid leave from existing jobs. People who have given up looking for work. Those who may have taken early retirement. The possible diminishing size of the average work week.

All of these affect what we note as unemployment figures.

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