Describe the Current Unemployment Rate in the United States

Unemployment
Name
Institutional Affiliation
Unemployment
In accordance with the definition of the unemployment rate, it accounts for the percentage of the employable populace who have unsuccessfully sought a job or lost their jobs and are still actively seeking employment. The current unemployment rate in the United States reads 4.7 percent; however, it does not account for the population who have lost hope searching for employment, retired or those who are not seeking job currently (United States Department of Labor, 2016).
During the recession years, when the economy was entirely sluggish, many job seekers gave up seeking employment and chose to stay at home. The unemployment rate topped 10 percent. Besides, it would have been much higher if the missing portion of the unemployed populace would have been accounted (Economy Policy Institute, 2016). The current unaccounted part of the labor force is much attributed to the prior recession years. If economic stability had been achieved long ago, the missing portion of the labor force would not exist. Furthermore, th...