Home Archives January 2009 "Real" jobless figure is twice as bad: 13.3%

"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

Downtime

October 2014
Thursday, September 25, 2014
BY JESSICA RIDGWAY

I'm not very interesting,” says a modest Ray Di Carlo, CEO and executive producer of Bent Image Labs, an animation and visual effects studio.


Read more...

Buyer's Remorse

September 2014
Tuesday, August 26, 2014

Parents and students paying for college today are like homeowners who bought a house just before the housing bubble burst.


Read more...

A Good Leap Forward

September 2014
Wednesday, August 27, 2014
BY AMY MILSHTEIN

Agriculture businesses ramp up to meet international demand as workforce and succession challenges loom.


Read more...

Back to School

September 2014
Wednesday, August 27, 2014
BY LEE VAN DER VOO

By now we’ve all read the headlines: Starbucks is giving away free degrees. Except it isn’t.


Read more...

Podcast: Interview with Pete Friedes

Contributed Blogs
Wednesday, August 27, 2014

082714-thumb friedesbookTom Cox interviews Pete Friedes, author of "The 2R Manager," about becoming a Best Boss.


Read more...

Gender Code

September 2014
Tuesday, August 26, 2014
BY COURTNEY SHERWOOD

Janice Levenhagen-Seeley reprograms tech.


Read more...

November/December Preview: Revenge Forestry

News
Tuesday, October 14, 2014
BY JONATHAN FROCHTZWAJG

Seneca AW46A flare-up in the Elliott Forest raises questions about détente in Oregon’s timber wars.


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