Tuesday, October 30, 2012

Economist: The undeployed

From: Oct 30th 2012, 15:13 by Economist.com
A broader measure makes unemployment in Europe look even worse

UNEMPLOYMENT rates typically count those looking for work but unable to find it. That measure overlooks many who are semi-detached from the labour market, even though they may be willing to work. People who fall into this category might be available to work but not seeking a job, or they might be looking for work but unable to start right away. Together, they number 17.8m in the European Union. This makes the broad measure of unemployment twice as high as its official rate in some cases. Italy alone has 4m of these undeployed workers. Europe's unemployment numbers, which are already bad, look far worse when they are taken into account.

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