Discuss how unemployment figures relate to true levels of unemployment in the United States. What are the consequences of using this method?
What will be an ideal response?
Feedback: The Bureau of Labor Statistics supplies the official unemployment statistics. The official government data on unemployment hide the actual amount by undercounting the unemployed in two ways: (1) People not actively seeking work (discouraged workers) are not counted. The Bureau's rationale is that the function of the statistic is to chart fluctuations in the active labor force, not to provide a complete portrait of the jobless. But undercounting joblessness diminishes the perceived severity of unemployment and, therefore, reduces the zeal to do anything about the problem. (2) People who work at part-time jobs are counted as fully employed. If the discouraged workers were counted as unemployed, along with those who work part-time but want to work full-time, then the rate would be much higher than the official rate.
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