Macro guys: Does anyone know what the "apples-to-apples" US unemployment rate has been compared to o...

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Macro guys: Does anyone know what the "apples-to-apples" US unemployment rate has been compared to other first world nations?

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It's my understanding that, in the 80's, the United States changed what how it measures unemployment. Afterwords, the rate appeared smaller because of these adjustments.

I am under the impression that the US tries to EXCLUDE as many people in the labor force as possible, while many other first world nations try to INCLUDE as many people as possible in their labor force.

Does anyone know if there's any merit to this? If so, does anyone know what they true comparison of US unemployment to other First world nation unemployment rates?

Edit: Thanks for all the responses, everyone!

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Spritzer784030

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Posted: 13 years ago
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