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This year, the Bush administration has cited the half-point decline in the unemployment rate as evidence of the economy's strength. But the government's unemployment rate is not a good gauge of economic health, according to Grog Werlinich, president of Werlinich Asset Management. Using additional government statistics, Werlinich developed the proprietary Werlinich Comprehensive Labor Index[TM]. The index suggests that, while the unemployment rate has fatten from 5.2 percent to 4.9 percent over the fast quarter, the true number of people facing adversity in the tabor market has realty been around 9.5 percent over the same period. The index aggregates the unemployment rate, the number of part-time workers seeking full-time jobs, and what the government calls "marginally attached workers": those who have searched for a job sometime during the past year, but not in ...