Unemployment Revisited

Just yesterday, we reported that the state's official unemployment rate grew to 9.3% last month. But today in The New York Times, David Leonardt has an in-depth look at the entire national unemployment picture, using the broadest measure possible. The official rate refers to people actively seeking unemployment; by expanding that definition to the entire world of people affected by the poor employment climate, including those who've dropped out of actively seeking employment (discouraged workers) and those part-time workers seeking full-time employment, Leonardt draws an even more painful picture.

The good news is that Washington isn't the hardest hit, though yesterday's news about new Boeing lay-offs makes clear things will get worse before they get better. Our broad unemployment rate is 16%; our neighbors in Oregon, though, lead the nation with a broad unemployment rate of 23% (versus the official rate of 13%)! That's almost one in four people in Oregon who are looking for full-time employment, and with most economists (and the president) expecting unemployment to continue rising for a couple months, it's hard to over-state how bad the current recession will get before those "green shoots" produce a harvest.

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By Jeremy in News on July 15, 2009 11:30 AM

Comments [rss]

bilco

First paragraph: well, the definition is 'actively seeking employment' - which is what you have to do to actively seek unemployment benefits. Nitpicking.

The bad part is that, for various political reasons, the U.S. has, over time, changed the definition of 'actively seeking', so any historical comparisons are dicey.

And no, they are not taking direct credit for the PI article in the first sentence. They taking credit for yesterday quoting a PI article that reported the unemployment rate (As if this info wasn't easily available from the State - c'mon guys!)

Steve Winwood

First paragraph second sentence: "The official rate refers to people actively seeking unemployment"

Do you mean actively seeking employment? Why would anyone actively seek unemployment? That's like singing about how you would prefer to have a LOWER love brought to you as opposed to a higher love.

Also in your first sentence you refer to a P.I. report, but you seem to be taking credit for this report. Do you also write for the P.I.?