Often when my friends and I talk about issues of unemployment a question comes up. How do we know if this number that we read in the paper is including everyone?
What about your friend who hasn’t had a job in two years and has just stopped looking?
What about people who work temp jobs, so they sort of have a job, but not really?
What about people who got a job at the mall during the SUPER SUMMER SALE, but then got let go?
I found a table to answer those questions.
There is a table in the Bureau of Labor and Statistics. It’s table A12. It is the Alternative Measures of Labor Underutilization. (H/T to Jonathan Tasini of Working Life, I was actually going to work this number out the old fashioned way with pencil and paper, but you saved me time.)