Senior Research Fellow
Mercatus Center, George Mason University
"How has the Measured Unemployment Rate Performed during the Great Recession?"
Unemployment in the United States was first estimated by the Bureau of Labor Statistics in the year the agency was created. At that time, it was loosely defined as “those who under prosperous times would be employed and who in 1885 were seeking employment.” Today, we have a different view of how unemployment should be defined and we ask a great deal of this measure. The unemployment rate is probably the most widely used and reported economic indicator in the world. It is an extremely important tool for guiding economic policy and understanding the effectiveness of government programs. It is viewed as a measure of labor market slack, an indicator of general economic activity, an indicator of both the beginning and the end of recession, and a measure of the hardship resulting from unemployment. I will talk about how the unemployment rate has performed in these various roles over the past five years.
Reservations are open through Wednesday, 4-10-13
Press: Please email :firstname.lastname@example.org with your attendance status and the date of attendance. It will be assumed that lunch is NOT requested. If lunch is requested, please contact me in advance, prior to the date of the event, for registration and payment instructions at the member rate.