[1rudeboy]

. . . but the question put forth was "Is there a componenet of "unemployed" labor left out of the unemployment rate calculation?"

Yes, and people whose unemployment benefits have run out are not, because failure to qualify for benefits is not a determining factor.

[in hoc signo vinces]

Which is why some feel the rate is skewed.

Think of it this way...when your unemployment benefits run out, and thus you are factored out of the calculation, arent you still "unemployed", so, the rate may be a bit artificially low.