Abstract
The official unemployment rate does not tell us how much unused labor there is in the economy, that is, how large is the reserve army of labor. Excluded from the official count of unemployed are a number of groups.… If we add the involuntary part-time workers and the marginally attached to the officially unemployed, we get 14,714,000 persons for January and an expanded unemployment rate of 9.9 percent, perhaps a truer measure of labor market employment distress.This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.
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