What is the current rate of unemployment? Does it count the long term unemployed?
aloehart asked:
By long term unemployed, I mean those who have been unemployed so long that they cannot draw unemployment.
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By long term unemployed, I mean those who have been unemployed so long that they cannot draw unemployment.
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The unemployment rate for June 2008 is 5.5%. The unemployment rate is not calculated based on how long someone’s been out of a job or whether they’re collecting benefits; it’s calculated based on whether a person is searching for a job. So if someone’s been out of work for 6 years and has given up on finding a job, they are not counted as unemployed, but if they are still applying places, then they are unemployed.