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05 February 2010

AskMecha: Got a question about the most recent underemployment figures According to the linked story, the overall unemployment rate dropped from 10 percent to 9.7 percent. But the underemployment rate dropped almost a full point, from 17.3 percent to 16.5 percent. How did this happen? Have all of those involuntarily part-time workers won full-time schedules?
It's a statistical blimp. The surveys to find those numbers are done with a random group of individuals and economists are saying that the random group probably was slightly less representative of the population than it should have been. These monthly numbers do have some built in noise associated with them and the January month reflects that. Also, December/January numbers tend to be full of statistical noise because they rely on the "seasonal adjusted" numbers which, over the past six years, have tended to be slightly off base and needed to be adjusted several months down the line (which is why the numbers of total unemployment went up since April 2008, they just did a massive audit and the initial numbers were too low). So, no, those involuntarily part-time workers have not won full-time schedules.
posted by stynxno 05 February | 11:37
Oh, OK. I get it. We're going to be seeing a correction to those figures buried somewhere on page 7 of the newspaper some time in the Spring.
posted by jason's_planet 05 February | 15:38
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