I found two sources that show how the unemployment rate is calculated:
http://www.bls.gov/cps/cps_htgm.pdf
http://www.bls.gov/cps/rvcps03.pdf
This is actually rather complicated and seems rather crude to me.
The question I have is, if we used the same metric that we used in the thirties before all these changes that were made, what would the unemployment number be today?
I estimate closer to 20% in 1930s style metric.
http://www.bls.gov/cps/cps_htgm.pdf
http://www.bls.gov/cps/rvcps03.pdf
This is actually rather complicated and seems rather crude to me.
The question I have is, if we used the same metric that we used in the thirties before all these changes that were made, what would the unemployment number be today?
I estimate closer to 20% in 1930s style metric.
