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The official unemployment rate (U3 numbers) should be ignored. This number serves little purpose other than being a political tool today. https://www.facebook.

The official unemployment rate (U3 numbers) should be ignored. This number serves little purpose other than being a political tool today. https://www.facebook.com/ellis.winningham/posts/1422093837849460 https://www.facebook.com/ellis.winningham/posts/142209383784...

virmundi 9y ago
To further this, U6 is around 8.6% - 1. 1 - http://www.macrotrends.net/1377/u6-unemployment-rate http://www.macrotrends.net/1377/u6-unemployment-rate
- deleted 9y ago
  [deleted]
- ganfortran 9y ago
  U-6 is close to prior Great Recession too, according to the chart.
  - HarryHirsch 9y ago
    Once salaries start rising I'll believe you.
    - ganfortran 9y ago
      U don't have to believe anyone. But if u believe in math, then even with this U-6 metric, it is back to 2007 level. Meaning this U-6 metric is not really an indicator diverging from the official claim either.
      - virmundi 9y ago
        It's positive in that it's tracking with U3. My point is that it unemployment on a daily basis, what mainstream America feels, is still twice as high as the "Full Employment" target set by the Feds. As to purchasing power, I'm not able to readily find numbers not that. Last I heard, people are working longer hours for the same pay they received in 2007/8. If that's true, they are functionally making less money. I've seen it first hand. People working 45-50 hours to make up for short staffing. However, I only have a few localized, anecdotal data.
- thechao 9y ago
  I'm looking here: http://www.macrotrends.net/1316/us-national-unemployment-rate I find it almost impossibly odd that "1 year after the decade" is sufficient to imply a recession. By that chart, 2021 is going to blow.
skybrian 9y ago
It gives you some idea what the job market is like, on average, based on people who are actually in the market. From the point of view of employers looking for workers, only the people who apply for open positions actually count. If nobody's applying, there's a shortage. They might have to start paying more. That's meaningful, good news for workers. On the other hand, if people who weren't looking for work start applying again, it would mean the official unemployment rate goes up. Seems like that could easily happen.

virmundi 9y ago

To further this, U6 is around 8.6% - 1. 1 - http://www.macrotrends.net/1377/u6-unemployment-rate http://www.macrotrends.net/1377/u6-unemployment-rate

deleted 9y ago
[deleted]
ganfortran 9y ago
U-6 is close to prior Great Recession too, according to the chart.
- HarryHirsch 9y ago
  Once salaries start rising I'll believe you.
  - ganfortran 9y ago
    U don't have to believe anyone. But if u believe in math, then even with this U-6 metric, it is back to 2007 level. Meaning this U-6 metric is not really an indicator diverging from the official claim either.
    - virmundi 9y ago
      It's positive in that it's tracking with U3. My point is that it unemployment on a daily basis, what mainstream America feels, is still twice as high as the "Full Employment" target set by the Feds. As to purchasing power, I'm not able to readily find numbers not that. Last I heard, people are working longer hours for the same pay they received in 2007/8. If that's true, they are functionally making less money. I've seen it first hand. People working 45-50 hours to make up for short staffing. However, I only have a few localized, anecdotal data.
thechao 9y ago
I'm looking here: http://www.macrotrends.net/1316/us-national-unemployment-rate I find it almost impossibly odd that "1 year after the decade" is sufficient to imply a recession. By that chart, 2021 is going to blow.

skybrian 9y ago

It gives you some idea what the job market is like, on average, based on people who are actually in the market. From the point of view of employers looking for workers, only the people who apply for open positions actually count. If nobody's applying, there's a shortage. They might have to start paying more. That's meaningful, good news for workers. On the other hand, if people who weren't looking for work start applying again, it would mean the official unemployment rate goes up. Seems like that could easily happen.