Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
To my way of thinking that sort of changing of the rules is a relevant structural change, so my point stands. In any case, those people should show up as unemployed in house-hold surveys if they're looking for jobs. But unemployment stats certainly have highly limited uses - they're really only short-term measures.

Employment rates have their own problems, but they're useful as a spectrum of measures that tell you something about the labour market.
Is the higher US employment rate among older workers a good thing or a bad thing? Why? Is taking early retirement inherently a bad thing?

Employment is ill-defined as well: when is someone considered employed?

There is no single statistic that allows us to carry out comparisons between differently structured local economies.

by Colman (colman at eurotrib.com) on Tue Jan 9th, 2007 at 08:48:45 AM EST
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