> > >> In the US "unemployed" refers to those seeking a job... if you sit on
> >> your hands you cease to get benefits and go off the unemployment
> >> rolls. At least in Arizona (it varies state-by-state) you must report
> >> weekly asking for a job placement, or you're history.
> >
> > Similar here as well. The unemployment rate refers to those "actively
> > searching for work" It's meant to catch people just entering the
> > workforce as well as those collecting EI.
> >
> > That means that a rising unemployment rate can be a sign of a good
> > economy reflecting 'discouraged workers' returning to the work force or
> > a sign of a faltering economy as workers are laid off and new entrants
> > have difficulty finding employment.
> >
> > Robert
> >
>
> Which is quite reasonable, if you actually care about who's looking for
> work, as opposed to considering them as mere numbers whose only
> significance is in helping determine whether we're in a recession or not...
Determining whether we're in a recession or not is easy, though usually can't be done until it's over. ;-) "Recession" is
*defined* as two successive quarters of -dGDP/dt, no matter what the talking heads say.