In December, the unemployment rate was 6.7% and the labor force participation rate was 62.8%.
Where would the two figures be if all of the discouraged workers that left the labor force since October 2007 came back, and were officially counted as unemployed?
Chart 2 shows that the participation rate would be a 0.7 percentage points higher, at 63.5%.
Chart 2: The actual labor force participation rate (blue line) versus where it would be if all of the discouraged workers that left since October 2007 came back (red line).
Chart 3 shows that the unemployment rate, meanwhile, would be a full percentage point higher, at 7.7%.
Chosen excerpts by Job Market Monitor. Read the whole story at