Journal Article

At the Richmond Fed: The Non-Employment Index

Abstract: Something unusual happened during the economic recovery following the Great Recession. By the end of 2014, the official unemployment rate, as measured by the Bureau of Labor Statistics (BLS), had declined by more than 4 percentage points from its October 2009 recessionary peak of 10 percent. Yet the share of the working-age population that was employed had increased by far less — just under 1 percentage point.

Keywords: unemployment; labor utilization definitions; Non-Employment Index;

Access Documents


Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Econ Focus

Publication Date: 2022

Volume: 22

Issue: 3Q

Pages: 3