(From The Washington Examiner)
Rather, the new administration is considering switching the calculation the Labor Department uses as the official unemployment rate in place of a broader definition of what constitutes unemployment.
It’s not a bad idea, said Heidi Shierholz, until recently the Labor Department’s chief economist. Done properly, the change might give a better, more complex portrait of what is going on in the economy, she said. In any event, it wouldn’t do any harm. “It would not be that the unemployment rate has actually jumped. We’d just be using a different set of data to calculate it,” she said.