America and the Terrible, Horrible, No Good, Very Bad Jobs Numbers
(Blog Post) So headline unemployment now stands at 10.2%, higher than forecast. Another 10 million or so workers are working "part time for economic reasons", meaning they want to work more hours, but can't get them. And 2.4 million are "marginally attached to the labor force"--they have looked for work in the past 12 months, and say they want a job, but have stopped looking too hard because there doesn't seem to be anything out there. Full Story »
Posted by Kaizar Campwala - via NewsRack (Health Care)
A somewhat helpful comment. I don't read McArdle very often, so I'm a little confused about the economic philosophy behind her remarks—when she says "unemployment is a far more important indicator than GDP," is she suggesting that it's more important for government to control unemployment than, say, inflation?