Re: “Few workers laid off find jobs” (TNT, 8-25).
The article stated that 56 percent of the people (6.1 million) laid off between January 2009 and December 2011 had failed to find jobs. What effect did those 3.4 million people have on the unemployment rate?
Looking at the Bureau of Labor Statistics, I found that the 56 percent cited had contributed 2.4 percent to the reported 9.1 percent unemployment rate, a quite significant figure.
But the most disturbing part of this research was that the unemployment rate is entirely dependent on your definition of labor force and unemployment. In …