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Does the Unemployment Rate Really Overstate Labor Market Recovery?, No. 14-06

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Does the Unemployment Rate Really Overstate Labor Market Recovery?, No. 14-06

DATE: June 2014

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ABSTRACT: Unemployment rose dramatically during the 2007-09 recession, peaking at 10 percent in October 2009. It has fallen steadily since then, at times outpacing economists' forecasts. In April, unemployment reached 6.3 percent, about two-thirds of the way back to its prerecession level. Such progress is often a sign of recovery, but some observers question whether the unemployment rate accurately measures resource utilization in the current labor market.

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Hornstein, Andreas , Kudlyak, Marianna , Lange, Fabian , Sablik, Timothy and Federal Reserve Bank of Richmond. "Does the Unemployment Rate Really Overstate Labor Market Recovery?, No. 14-06," Economic Brief (June 2014). https://fraser.stlouisfed.org/title/6034/item/583925, accessed on September 22, 2023.

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