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

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

| Print |  Email
Archives - January 2009
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

The Alchemist

September 2014
Tuesday, August 26, 2014
BY LINDA BAKER

David Howitt explains why Portland consumer brands like Stumptown and Voodoo Doughnuts are taking the world by storm.


Read more...

Is this employee right?

Contributed Blogs
Wednesday, August 13, 2014
081314 thumb employeefeelingsBY TOM COX | OB BLOGGER

When I say, “Your Employee is Always Right,” I do not mean “right about the facts,” but rather “right about how they feel” and “right about how they want to be led.”


Read more...

Molecular Movies

September 2014
Wednesday, August 27, 2014
BY LINDA BAKER

Dr. Chong Fang isn’t God. But the assistant professor of chemistry at Oregon State University is getting closer to figuring out how he put everything together. 


Read more...

How to add positivity to your team

Contributed Blogs
Friday, September 12, 2014
happy-seo-orlando-clientsBY TOM COX | OB BLOGGER

I often talk about what leaders can do. What about followers? If you’re a team member and you’d like to add positivity to your team, what might you do?


Read more...

Powerlist: Colleges and Universities

September 2014
Wednesday, August 27, 2014
BY KIM MOORE

A conversation about higher education with the presidents of the University of Oregon and Clackamas Community College, followed by September's powerlist.


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...

Report Card

September 2014
Tuesday, August 26, 2014

Strong public schools shore up the economy, survey respondents say. But local schools demonstrate lackluster performance.


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