Ahead of the Tape

Measuring 'Unemployed' Is a Moving Target

Dec. 6, 2012 6:11 p.m. ET

"When more and more people are thrown out of work, unemployment results." Calvin Coolidge's quote about joblessness was probably one time he would have been better off living up to his nickname, "Silent Cal." Fast forward 80 years, and the former president would have a tougher time mastering the obvious. Nowadays, unemployment is a fuzzy concept that can be measured in more or less flattering ways.

Friday's release of November jobs data, the first since the election, may involve less acrimony than...

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