What Does the Unemployment Rate Measure? Labor Market Slack or the Social Stress of Joblessness? Why Does it Matter?

The unemployment rate published monthly by the Bureau of Labor Statistics is one of the most widely watched of all economic indicators. But why? What does it really measure? The news media, politicians, and voters tend to see the unemployment rate as an index of the social stress of joblessness. There is ample evidence to ...

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MacroPolis was launched on September 24th, 2013 with the aim of providing insight through timely, accurate and penetrating analysis of the key political, economic and social developments in Greece.
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MacroPolis is an independent analysis service providing daily insight on what makes Greece tick. Since 2014, we have been operating a subscription scheme, a business model we believe best safeguards our independence.

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