Although the unemployment rate is the single best indicator of how well the labor market is working, we discussed in class that

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Although the unemployment rate is the single best indicator of how well the labor market is working, we discussed in class that

it is considered incomplete because it: does not count discouraged workers. does not measure how well people are matched to their jobs. counts part-time workers who would like to work full time as fully employed.

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1 answer:

shepuryov [24] · Answer 1 · 2023-03-10T14:28:03+03:00

The unemployment rate is not considered to be a complete measure because it does not count discouraged workers.

<h3>How is the unemployment rate calculated?</h3>

The unemployment rate includes only people who are still actively searching for work and they have to be in the labor force.

People who have looked for jobs for a while and then got discouraged and given up, are not counted as unemployed which therefore depresses the unemployment rate.

Find out more on the unemployment rate at brainly.com/question/13280244.

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