Yellen acknowledged that including discouraged workers in the unemployment rate lifts it to around 13%, "a much broader measure of shortfall in our economy from what we would like to see".
Updated at 1.07pm ET Facebook Twitter Google plus Share Share this post Facebook Twitter Google plus close 12.56pm ET17 56 Yellen is asked by Rep. Emanuel Cleaver, Democrat of Missouri, about the U-6 unemployment rate, which takes into account discouraged workers who have left the tallied labor force.
Certainly there are discouraged workers, those who are marginally attached.... That's a measure that is disproportionately elevated in comparison with the 6.6% or the U-3 unemployment rate.
"I was pretty discouraged.
Temporary factors explain some of this shortfall: discouraged workers have given up hunting for work because no jobs are available, and the young are staying in education longer.
One reason why the headline unemployment rate fell to 10% last month was because discouraged workers dropped out of the numbers since they were no longer looking for a job.
Once, the jobs people held discouraged anti-social behaviour.
But the MDC's presence may also have discouraged private investment.
Those were taxes our neighbouring states didn't have, [and] that discouraged investment.
Add the underemployed and discouraged, and California is second only to Nevada.
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