Today, we finally caught up and got our IDEA effective unemployment rate for February out. 9.9% Headline, 15.8% All-In (U-6). The IDEA effective unemployment rate resolves into one number the conflict between official rates and the workforce participation rate.
Confusion is unnecessary. Both numbers measure the same thing in different ways. The IDEA effective unemployment rate captures what we observe in our everyday experience, but is obscured by official figures.
We promised it on the day of the release, but we lost a week in our current preoccupation with start-up. The BLS release came out March 7, last Friday. These early numbers are subject to revision, but we understand the currency of currency. We will get it together by our April 11 roll-out. Look at our discussion at IDEA effective unemployment rate.