"Real" jobless figure is twice as bad: 13.3%

| Print |  Email
Thursday, January 01, 2009
STATEWIDE The growing unemployment rate in Oregon is distressing, but the “real” unemployment rate is actually nearly twice as bleak.


Officially, the state unemployment rate in October was 7.3%. Unofficially, the rate was 13.3% if you count other groups usually not included in the Oregon Employment Department’s monthly calculation.

“It’s a little bit of another perspective on the labor force,” says state labor economist Art Ayre.

The conventional definition of the “unemployment rate” only counts those out of work but actively searching for a job. The 13.3% rate includes people who want work but have given up looking, those who want work but haven’t searched for a job in the past four weeks, and people who have a part-time job but want to work full-time.

The figure is what some labor economists call the “real” unemployment rate, an alternative, and controversial, number that sometimes finds its way into the national dialogue on the most accurate indicators of unemployment and economic health.

Nationally, the federal Bureau of Labor Statistics compiles and categorizes the rate as “labor underutilization,” economic jargon for describing people who don’t fall under the technical definition of unemployment.

Oregon’s official employment spiked to 8.1% in November, and the “real” rate will increase accordingly.  

“During certain periods when people are looking for a job, this number can increase rapidly,” Ayre says. “It’s another perspective to get a complete picture.”

JASON SHUFFLER


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it


 

More Articles

5 questions about the FLIR FX

The Latest
Wednesday, April 08, 2015
FLIR-FX-IndoorBY JACOB PALMER | DIGITAL NEWS EDITOR

The Wilsonville-based company is targeting GoPro enthusiasts with its latest release. Is spy gear poised to go mainstream?


Read more...

An uncertain future

Guest Blog
Thursday, May 21, 2015
norristhumbBY JASON NORRIS | GUEST BLOGGER

Uncertainty is a part of doing business, whether in through the lens of investment opportunities and risks or the business of running an enterprise.


Read more...

Epitaph for a Boondoggle

April 2015
Friday, March 27, 2015
BY JOE CORTRIGHT

The CRC is a cautionary tale about how we plan for, finance and invest in transportation infrastructure.


Read more...

Short Shrift:The threat of just-in-time scheduling

May 2015
Monday, April 27, 2015
BY AMY MILSHTEIN

Companies can benefit when they use software to meet staffing requirements and address employees' family and life commitments.


Read more...

Photo Diary: Forest Grove Farmers Market

The Latest
Thursday, May 14, 2015
IMG 8469BY JASON E. KAPLAN | STAFF PHOTOGRAPHER

There are more than 160 farmers markets in Oregon, contributing an estimated $50 million in sales, according to the Oregon Farmers Markets Association. We checked in on the Forest Grove market, which for several years has brought local produce and food vendors to Main Street in the center of town.


Read more...

Banking Perspective

April 2015
Thursday, March 26, 2015
BY KIM MOORE

A conversation with Craig Wanichek, president and CEO of Summit Bank.


Read more...

Correction: Biker dreams

The Latest
Friday, May 15, 2015
bike at ater wynn-thumbBY KIM MOORE | RESEARCH EDITOR

The Portland Bureau of Transportation is seeking input from businesses on a $5.5 million initiative to create a network of biking, transit and pedestrian trails within Portland’s central city.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS