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Alternative Measures of Labor Underutilization

The U.S. Bureau of Labor Statistics provides estimates for six measures of labor underutilization based on results of the Current Population Survey. These measures were developed to provide data users with two measures that are more narrowly defined and three measures that are more broadly defined than the official unemployment rate. The most restrictive measure indicates the percentage of the labor force that have been unemployed for fifteen weeks or longer, while the next most restrictive measure indicates the percentage of the labor force that are job losers. Two more broadly defined measures add discouraged workers to the estimate; and then those who would like a job, but are neither currently looking nor discouraged. The most broadly defined measure adds those persons who work part-time, but want and are available for full-time work to the underutilized labor estimate.

Alternative Measures of Labor Underutilization Descriptions

 

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