Wimpy Ross Douthat Resorts to Half Measures Only!
The Singularity Is in Our Past...

A Modest Proposal on Unemployment Reporting

From Barry Ritholtz:

The Big Picture | Unemployment Reporting: A Modest Proposal (U3 + U6): U6, on the other hand, is the broadest measure of Unemployment: It includes those people counted by U3, plus marginally attached workers (not looking, but want and are available for a job and have looked for work sometime in the recent past), as well as Persons employed part time for economic reasons (they want and are available for full-time work but have had to settle for a part-time schedule).... Here is a modest proposal for all of the poor scribes (like me) who slog through the monthly NFP report: For the sake of more accurately describing the conditions in the labor market, let's begin reporting two measures of Unemployment: U3 as well as U6.

The Big Picture | Persons