Confused by the interpretation of unemployment statistics? Then b y all means don't miss Tim Worstall's Pajama Media piece on the subject.

Worstall wonders whether some unemployment can be a good thing, and points out (gasp!) that some people actually choose not to work!

....places where people have looked at the employment to population ratio and declared that the jobs market is in fact worse than the straight unemployment rate would lead us to believe. For those who are economically inactive, the percentage of the adult population that not only doesn't have a job but isn't looking for one has risen. And, of course, the assumption is that they've been pushed, not chosen, and that this is thus a bad thing.

But perhaps it is in fact a good thing? Perhaps this change in the size of the labor force is a result of individual choices rather than people being pushed?

Anyway, if you enjoy such heresy, read the whole thing.