Amid all of the talk about unemployment duration and the unemployment rate is a little known ratio, touched upon in this Wall Street Journal editorial. You’re curious, however – because the unemployment rate calculation has been messed around with quite a bit, how does it line up with the ratio? Lucky for you, I’ve got a graph here.
All numbers from the BLS, seasonally adjusted:
- Unemployment Rate vs. Employment Ratio (BLS)
That dip at the end in both ratios? People leaving the workforce. Unemployment numbers can tell you one thing, but it’s harder to be fooled by the ratio of the country working. Check out this Wikipedia article for more.
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