Since there are Many Types of Unemployed.......

1. Unemployed Looking for work

2. Part-Timers looking for full time jobs

3. The discouraged and no longer motivated unemployed who has stopped looking.

4. Furthering their education unemployed, to get a better job

5. Retired unemployed, many who wish they could work and earn wages a little longer

*If #1 is the only means of the government actually keeping record of the unemployment rate, Isn't it much higher?

MSNBC 'The sharp drop in the employment rate also comes as many would-be job seekers have given up looking for work, which tends to lower the total percentage of those who are officially defined as unemployed. The labor participation rate been fallen steadily since the recession began in 2007 and has continued to fall since the economy began recovering in 2009.

Some of those who have given up are older workers who have been forced to retire earlier than they’d like. The biggest drop, though, has come from younger workers who have gone back to school, moved back home or cashed in their savings to travel the world before settling into a life of mortgage payments and retirement planning' . READ MORE