The total unemployment rate includes both the traditional unemployment rate as well as marginally attached workers. The traditional unemployment rate also decreased in August, down to 8.1 percent.
Since June 2009, 504,000 jobs have been cut among municipal employees. Public-sector reductions at the local level have subtracted almost a quarter of a percentage point from annual GDP each of the past four years.
The folks over at The Daily Reckoning are on a mission. Their treasure? Insight. Insight into why it is that the smartest economists in the world are so stupid. Incidentally, they hope to understand why the GDP is such a fraudulent measure of prosperity
US Sen. Harry Reid (D) of Nevada suggests that Americans pile up the Chinese-made Team USA uniforms and burn them. But how much does China really 'dominate' the US economy?
There are effectively two unemployment rates, one including all discouraged and underutilized labor, and one a more restricted grouping. The “total” rate of unemployment should include both traditionally unemployed and underutilized workers.