Have you ever wanted a very simple explanation about how the unemployment data is calculated? The mathematics and science guru Salman Khan has put together another video explaining the basic concepts.
While he does not go into the the survey methodology, or the birth/death adjustments, the video is a good explanation of the core concept of how people can still be unemployed and not be counted. (Khan Academy)
Khan, how about tackling the birth / death model? Now that one will be a dozy.
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{ 1 comment }
Thanks for putting this up! Helped clarify…