All Commentary
Monday, April 5, 2010

Unemployment Rate Could Go Up Again

“The increase in jobs highlighted in the nation’s most recent unemployment report carried the sound of economic promise, but Obama administration officials said Sunday that the public shouldn’t expect any dramatic improvement in the jobless rate, largely because of the effect of thousands of ‘discouraged’ unemployed people who have resumed their search for work. Some economists assert that the unemployment rate, which held steady at 9.7 percent in March, is likely to be driven higher as many more such people are lured into looking for work by signs of recovery.” (Washington Post, Monday)

It’s all in the method of measurement.

FEE Timely Classic
“Wages, Unemployment, and Inflation” by Ludwig von Mises