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Over the year vs monthly unemployment
Heidi Shierholz explains:
The figure shows the average monthly unemployment rate and the over-the-year unemployment rate. Using the ratio of the over-the-year unemployment rate to the average monthly unemployment rate in 2010 (the latest data available), the over-the-year unemployment rate for 2011 and 2012 are projected. According to the data, we can expect that 14.9 percent of the workforce – more than one in seven workers – will be unemployed at some point next year.

Last year, 15.9 percent of the workforce was unemployed at some point, while the average monthly employment was 9.6 percent.

And as we know, the official unemployment rate dramatically understates the number of people who would like full-time work and don't have it. Never mind the people stuck in jobs that don't pay enough to live on. But forget all that. Clearly the problem is that unemployed people are lazy.

Originally posted to Daily Kos Labor on Fri Dec 09, 2011 at 01:22 PM PST.

Also republished by Unemployment Chronicles and Daily Kos.

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