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Old 12-09-2013, 05:12 PM
 
Location: West Paris
10,264 posts, read 11,004,394 times
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Real US Unemployment Rates Reveal True State of Economy

Thoughts?
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Old 12-09-2013, 05:31 PM
 
11,768 posts, read 9,214,790 times
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Water is wet.
Quote:
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.
U6 counts the underemployed.
Table A-15. Alternative measures of labor underutilization
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Old 12-10-2013, 08:53 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
34,136 posts, read 62,137,161 times
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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.
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Old 12-10-2013, 09:51 AM
 
4,130 posts, read 4,086,986 times
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Every couple months some one will bring up the U-6 number to "prove" their own thoughts about "how the economy is not doing as well as people think." It's been happening since 1994 with survivialist and doomsayers, and those who want to discredit politicians in power. That metric is pretty much what powers the website Shadowstats claims of economic collapse any day now.

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.
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Old 12-14-2013, 03:07 PM
 
5,366 posts, read 5,575,338 times
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Quote:
Originally Posted by EmeraldCityWanderer View Post
Every couple months some one will bring up the U-6 number to "prove" their own thoughts about "how the economy is not doing as well as people think." It's been happening since 1994 with survivialist and doomsayers, and those who want to discredit politicians in power. That metric is pretty much what powers the website Shadowstats claims of economic collapse any day now.

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.
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Old 12-14-2013, 03:23 PM
 
86,024 posts, read 83,554,208 times
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Here is my opinion.

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.
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Old 12-14-2013, 04:21 PM
 
Location: West Paris
10,264 posts, read 11,004,394 times
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Part-Time America! - Labor Dept: 70% Of Jobs Created In 2013 Were Part-Time - Stuart Varney - YouTube
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Old 12-14-2013, 04:34 PM
 
Location: WA
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Depends upon definition. The labor participation rate is down to 63% so that would mean 37% are not employed.
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Old 12-14-2013, 04:42 PM
 
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I wil bet more than 1/2 that number can't even meet the criteria i listed above to even be employed.
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Old 12-14-2013, 05:43 PM
 
Location: Victoria TX
42,661 posts, read 78,634,155 times
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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 06:00 PM..
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