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Well, the students who might have wanted to work and the SAHM also aren't the types that can easily change shifts, days off and on and weekends...... Remember, the employer wants those willing to work, not show up when it's convenient for them to do so. That's more likely why they weren't getting work.
The NY Times is the nation's fishwrap-of-record. Might as well quote Nanci Pelosi and the DNC. It has little careful economic analysis, this article included.
Doesn't the U5 & U6 rate take discouraged workers ("Folks leaving the labor force") into consideration?? If what you are saying is true, how come U5 and U6 unemployed rates have been improving as well since 2011 (https://www.macrotrends.net/1377/u6-unemployment-rate)? :/
P.S. I am not pro/con any past and current president...
Discouraged workers are actually not included. U6 is under-employment or workers who are part-time but want to work full-time along with those that have looked in the past 12 months but haven't looked this past month. The U6 is historically double the traditional U3 unemployment number.
Discouraged workers are actually not included. U6 is under-employment or workers who are part-time but want to work full-time along with those that have looked in the past 12 months but haven't looked this past month. The U6 is historically double the traditional U3 unemployment number.
You've lost me...
Quote:
What is {term}? U-6 Rate The U-6 rate is the unemployment rate that includes discouraged workers who have quit looking for a job and part-time workers who are seeking full-time employment. The U-6 rate is considered by many economists to be the most revealing measure of a country’s unemployment situation since it covers the percentage of the labor force that is unemployed, underemployed and discouraged.
The government’s official definition of unemployment is relatively narrow. It counts only people actively looking for work, which means it leaves out many students, stay-at-home parents or others who might like jobs if they were available.
This isn't true though.
Does the author not know about measures of unemployment beyond U3? Even U6 today shows the job market as better than it has been in a long time.
They might be included in the U6 unemployment rate, but U6 does NOT add them. The U5 rate doesn't even add them to the unemployment rate (they take the U4 rate and adds marginally attached workers which are those that have looked for a job within the last year, but not within the last 4 weeks) while the U4 rate (a fairly uncommonly used unemployment rate) does and adds them to the traditional U3 rate. If you subtract the U3 rate from the U4 rate, you'd get the real value of discouraged workers. The U4 is nearly 0 these days (0.3 from the March data) while the U6 is MUCH higher at almost 3 above the U5. The discouraged worker these days are over-valued and the under-employed part-timers who want to be full-timers.
They might be included in the U6 unemployment rate, but U6 does NOT add them. The U5 rate doesn't even add them to the unemployment rate (they take the U4 rate and adds marginally attached workers which are those that have looked for a job within the last year, but not within the last 4 weeks) while the U4 rate (a fairly uncommonly used unemployment rate) does and adds them to the traditional U3 rate. If you subtract the U3 rate from the U4 rate, you'd get the real value of discouraged workers. The U4 is nearly 0 these days (0.3 from the March data) while the U6 is MUCH higher at almost 3 above the U5. The discouraged worker these days are over-valued and the under-employed part-timers who want to be full-timers.
Does the author not know about measures of unemployment beyond U3? Even U6 today shows the job market as better than it has been in a long time.
Figures other than U3 are rarely reported, and has nothing to do with maintaining that all these figures are becoming detached from a changed economic/employment reality.
Dude.. read your own source. Discouraged works is included in the calculation starting at U4.
Dude, I know what I wrote. I said we were both wrong and stated that they were included starting from the U4. Not U5, not U6, U4. I might not have fully said I was wra-wra-wra-wrong, but I explained that one, it was included but two is actually not as big of a chunk of unemployment as many thing. Well perhaps if they become fully discouraged and drop out of the labor force...
Figures other than U3 are rarely reported, and has nothing to do with maintaining that all these figures are becoming detached from a changed economic/employment reality.
Indeed, the U3 is the most widely reported and second to that is U6 which was done a lot during the Obama years of recovery. This was often cited as the "Real unemployment rate" as was the LFPR.
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