COSTS OF DEFICIENT ECONOMIC GROWTH Based upon true level of unemployment concept, including full-time unemployment, full-time equivalent of part-time unemployment, and concealed unemployment (nonparticipation in civilian labor force) due to scarcity of job opportunity. Basic Data: Dept. of Commerce; Dept. of Labor Chart 2 LONG-TERM TRENDS IN PRODUCTIVITY Chart 2n deriving these percentages, the Civilian Labor Force is estimated as the officially reported Civilian Labor Force plus concealed unemployment. Full-time unemployment of 2.9% and true unemployment of 4.1 % would be consistent with maximum employment. Data for 1953-1966 relate to persons 14 years of age and older; 1967-1969 relate to persons 16 years and older. Basic Data: Dept. of Commerce; Dept. of Labor |