Reality-Based Engineering: Another Good Explanation That Enemployment Rate Is Bogus Number

Saturday, June 02, 2007

Another Good Explanation That Enemployment Rate Is Bogus Number

The Big Picture is quickly becoming my fav economics blog. As I've always stated that the unemployment rate is completely bogus, since the denominator is a melange of stats regarding those that WANT to look for jobs + those employed.

Since the labor pool has shrunk, the percentage of course has gone down.

Labels: economy, macroeconomics, media, RBE, The Big Picture, unemployment

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I'm a liberal chemical engineer swimming in a sea of right-wingers. My cohorts and I (The Gumbinator, Lemon-Lyman and Johnny K-Street) will post about such things as "green" science and engineering, other engineering/IT and how they may relate to politics and economics, and economic issues such as tax policy and government transparency. Electoral stuff too. Of course, I'll bash the Bushies...