ECON545 Week-4 Discussion 1
The article is titled "Is the unemployment rate really just a 'Big Lie'?" by Chris Matthews. In this article the readers are shown how the government, and Wall Street encourage good news and how the media likes to hype up bad news as they each attempt to alter the figures that are presented to the public to make appear the economy is better or worse than it is. Someone working part time is counted employed and a person that has had no job and haven’t looked for one in the past four weeks is viewed not in the labor force, rather than unemployed. Assumptions and distinctions are apart of the key criteria along with six different measures of unemployment to calculate the unemployment rate.
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