FIGURE 14-2 Alternative Measures of Unemployment, 1994–2016
imageThe unemployment number usually quoted in the news media counts someone as unemployed only if he or she has been looking for work during the past four weeks. Broader measures also count discouraged workers, marginally attached workers, and the underemployed. These broader measures show a higher unemployment rate, but they move closely in parallel with the standard rate.
Data from: Bureau of Labor Statistics.