Mitt Romney is in a tough political spot: He can’t seem unhappy about a falling unemployment rate. But he can’t be too laudatory about an economic recovery that appears to be strengthening on President Obama’s watch. And so he’s embraced a third option: arguing that “if you take into account all the people who are struggling for work or who have just stopped looking, the real unemployment rate is over 15 percent.”
Romney is referring here to the so-called “U6” measure. It is not, strictly speaking, a measure of unemployment. It’s a measure that groups the unemployed, the involuntarily part-time and the no-longer-looking together into one index. It’s the broadest measure of labor-market misery we have. And it also means that, technically, Romney is wrong:
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via All measures of unemployment are falling – The Washington Post.