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That methodology is flawed because not every unemployed person applies for unemployment insurance; some people don’t qualify for it while others may have other sources of income. There are also those whose benefits have expired and persons that refuse to participate in the system.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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There are situations that are still not counted, such as when my business of 17 years went under in 2008 and it took me over a year to get a job. As self employed I was not eligible for any kind of benefits and had to just go through savings and use credit cards for that year. On the other hand, I would not consider those that stop looking for a job or have other sources of income to be unemployed. Unemployment data as a measure of the economy should reflect people who have no job but want one. There should be a distinction between the unemployed and the non-employed.
The best thing to do is not get into that mindset in the first place. It leads to overwhelming fear and paranoia, as well as isolation. Balance is the key with news, and making sure you know what each measure means and the benefits/flaws of each methodology is best.
The best thing to do is not get into that mindset in the first place. It leads to overwhelming fear and paranoia, as well as isolation. Balance is the key with news, and making sure you know what each measure means and the benefits/flaws of each methodology is best.
The U6 is a VERY accurate description of the economy we have today. It reveals the true damage to our workforce that the recession caused. I was without a job for years back in college. I would send out 20 resumes or so and after no call backs I would just stop trying for six months. I wanted a job and the U3 rate NEVER counted me in any statistic.
The great recession gave employers the ability to get rid of their less than stellar employees as well as snatch up the cream of the crop.
We are and have been hiring like crazy here in long island ny.
We have hundreds of applicants and hundreds who can't pass a drug test,can't pass a background check, can't pass a credit check,and we have not even gotten to their job skills.
Many speak english poorly and many have poor work skills.
There are sooooo many unemployed that at this stage are just unemployable .
There are lots of jobs but not for them.
Others have told us they want 20 bucks an hour to pack boxes because they are collecting unemployment and working at the deli off the books . 20 bucks is the equal to what they are getting so they won't work for less.
The employment numbers are skewed both upward and down.
Yes, I have "thoughts": The link is to a piece in an upstart on-line news tabloid, and is bylined with the name of a writer who won't even reveal his last name. What kind of journalism is that? Look at some of the other junk news on the same site.
The same writer who used this sentences as a lead lin another story, which somehow got past the editor, if there is one:
"Individuals critical of the use of drones to hunt and kill suspected terrorists are now being signaled out as a threat to national security."
Last edited by jtur88; 12-14-2013 at 05:00 PM..
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