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From the article, "Only 78.6 percent of people age 25-54 are employed" yet we say unemployment is at 4.4. It very much smells like unemployment, as we count it,
by graphitezepp 9y ago
From the article, "Only 78.6 percent of people age 25-54 are employed" yet we say unemployment is at 4.4. It very much smells like unemployment, as we count it, is a bad metric and that explains what looks like a paradox in economic principles.
- abritinthebay 9y agoWell the issue is that there isn't one metric. There's unemployed and seeking work, unemployed and not seeking work, under-employed, and so on Not to mention the composite figures derived from these. Employment Reports list all of these, it's just people want to consume short sound bites, not complex social and statistical topics.
- wernercd 9y agoNot everyone outside that 78.6 is employable... disabled, students, retired (some are that lucky), stay at home moms, etc. The question is: Who is employable (outside of disability, student, etc) and not for legitimate reasons. The U3 (4.4), as I understand it, is more a "moving target" of recent numbers... it's the number of recently unemployed and still looking the U6 (8.6%) should be closer to "real" unemployment since it includes discouraged, marginal and part time workers (those under utilized). https://www.bls.gov/news.release/empsit.t15.htm https://www.bls.gov/news.release/empsit.t15.htm