Does the Unemployment Rate Really Overstate Labor Market Recovery?
Unemployment rose dramatically during the 2007-09 recession, peaking at 10 percent in October 2009. It has fallen steadily since then, at times outpacing economists' forecasts. In April, unemployment reached 6.3 percent, about two-thirds of the way back to its prerecession level. Such progress is often a sign of recovery, but some observers question whether the unemployment rate accurately measures resource utilization in the current labor market.
Year of publication: |
2014
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Authors: | Hornstein, Andreas ; Kudlyak, Marianna ; Lange, Fabian ; Sablik, Timothy |
Published in: |
Richmond Fed Economic Brief. - Federal Reserve Bank of Richmond. - 2014, June, p. 1-5
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Publisher: |
Federal Reserve Bank of Richmond |
Saved in:
freely available
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