A Note on Unemployment Statistics
I tried unsuccessfully to tune out Fox News blaring in the diner where I had breakfast yesterday. With some characteristic outrage, host Megyn Kelly reported that the 9.5% unemployment rate does not even include those people who have been jobless so long they've exhausted unemployment benefits--an error repeated minutes later by a FOX economic correspondent. One could argue from many angles that 9.5% underestimates the number of jobless, but the figure has nothing… More »


