[lbo-talk] the unemployment rate

[Doug Henwood]

Sites like Shadow Government Stats <http://www.shadowstats.com/> get a  
lot of attention for claims that changes in the calculation of the  
unemployment rate have lowered it dramatically - and that today's  
jobless rate is already at Depression levels if calculated properly.  
Even someone as smart as Kevin Phillips has fallen for this nonsense.

My day job partner Philippa Dunne wrote up a critique of this line at:

<http://tlrii.typepad.com/theliscioreport/2009/01/calculating-the-unemployment-rate.html 

 >.

Highly worth reading.

Doug