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It underestimates the unemplyment rate. The Labor Force consists of two catagories, Employed and Unemployed. Assuming you know what an unemployed citizen is, then you can understand it might be frustrating when an unemployed person can not find a job. Once a month, the government (at least in the USA) asking if you are currently looking for work. If stated no, that person is no longer Unemployed, but said to be Not in the Labor Force. Because of this, the unemployment rate is underestimating, because really, this person wants a job and has become too frustrated to continue the job search.
What else can I help you with?
Does your current unemployment rate underestimate unemployment?
Yes, the current unemployment rate may underestimate unemployment due to factors such as underemployment, discouraged workers who have stopped looking for jobs, and those who have left the labor force. This can result in a less accurate representation of the true extent of joblessness in the economy.
What is the Unemployment rate now?
What is the national unemployment rate
What was the unemployment rate in the US for August?
The Official Unemployment rate (U-3) in US for August 2011 was 9.1.Below are the other unemployment rates in US for August 2011 :U-1 Unemployment rate : 5.4U-2 Unemployment rate : 5.3U-3 Unemployment rate : 9.1U-4 Unemployment rate : 9.7U-5 Unemployment rate : 10.6U-6 Unemployment rate : 16.2
What are the problems of using the unemployment rate as an indicator of economic health?
There are a few problems with the unemployment and the economic health. The main problem is people not wanting to work.
What is the current rate of unemployment in Fiji?
6.473 % this is the unemployment rate in fiji
What is the unemployment rate in Italy?
The estimated unemployment rate is 8.4% in Italy
What was the unemployment rate in India in 1991?
The unemployment rate in India in 1991 was approximately 3.4%.
What is unemployement rate of Pakistan?
The Unemployment rate of Pakistan is 15.4%.
Does current employment rate overestimate unemployment?
No. it would under estimate the unemployment for the following reason. The total workforce includes employed andunemployed, underemployed, those who have given up looking for jobs, early retirement because of inability to find work, etc. Unemployment figures are obtained from the states data on those receiving unemployment benefits. Therefore employment does not reflect those hidden figures not considered "unemployed" by official measurement.
What is Italy's unemployment rate?
The estimated unemployment rate for Italy is 6.8% (2008).
What is Florida's unemployment rate?
Florida's unemployment rate hits 10.2 percent
What is the rate of unemployment in Canada?
As of September 2010, the rate of unemployment in Canada is 8.0%
