Their commitment to work is clearly less. They aren't looking in the last month, for whatever reason.Leaving aside for a moment the vaguely insulting tone of Hamermesh's comment, since when is the idea of the unemployment rate to measure the public's "commitment to work?" I suppose that this would be a legitimate question for someone from the Bureau of Labor Statistics; but then again, so is why the unemployment rate only includes those people who are actively looking in the first place.
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Sunday, October 4, 2009
Measurable Commitment
I was listening to a story on Marketplace concerning discouraged workers, those people who could, in theory, be working, but aren't currently in the market for a job. Interestingly, they aren't technically unemployed, and so the standard unemployment rate calculations don't include them. Marketplace correspondent Mitchell Hartman asked University of Texas economist Daniel Hamermesh why this is.
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