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Official unemployment rate dips to 9.4%
By: Bill O'ReillyJanuary 7, 2011
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STORY EXCERPT
Christian Science Monitor: Today's Employment Situation report showed that in December "total unemployment" including all marginally attached workers declined to 16.7% while the traditionally reported unemployment rate declined to 9.4%. The traditional unemployment rate is calculated from the monthly household survey results using a fairly explicit definition of "unemployed" (essentially unemployed and currently looking for full time employment) leaving many workers to be considered effectively "on the margin" either employed in part time work when full time is preferred or simply unemployed and no longer looking for work.
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