4 ms·

The unemployment rate is still over 8% if you count those who have dropped off because they haven't found work in 6 or more months. This measure was well under

The unemployment rate is still over 8% if you count those who have dropped off because they haven't found work in 6 or more months. This measure was well under 7% at our last period of nearly full employment. http://www.macrotrends.net/1377/u6-unemployment-rate http://www.macrotrends.net/1377/u6-unemployment-rate

IncRnd 9y ago
U-6 unemployment has been trending down not up over the last year. Looking at specific dates, raw U-6 is .9 less than a year ago. Seasonally adjusted U-6 is a full point less than a year ago. https://www.bls.gov/news.release/empsit.t15.htm https://www.bls.gov/news.release/empsit.t15.htm
- Bartweiss 9y ago
  For all the talk about different unemployment rates, U3 - U6 track each other shockingly closely. That said, OP's complaint still applies for LFPR or NEET percentage, which as far as I know are moving opposite U3-6?
  - IncRnd 9y ago
    LFPR has been mostly unchanged since the end of 2013. https://data.bls.gov/timeseries/LNS11300000 https://data.bls.gov/timeseries/LNS11300000 I agree, though, the U numbers are basically the definition of "fake news" from the standpoint of what you mentioned.
tj-teej 9y ago
"if you count those who have dropped off" - I thought the definition of unemployment doesn't include those who're not looking?
- opportune 9y ago
  There are multiple different notions of employment (e.g. U1 through U6). The US government uses U3 https://en.wikipedia.org/wiki/Unemployment#United_States_Bureau_of_Labor_statistics https://en.wikipedia.org/wiki/Unemployment#United_States_Bur...
adventured 9y ago
The last time the US was at or near full employment per the U6 was 2006-2007, when it hit around 8%, courtesy of an extreme housing bubble. Before that it got below 8% in the late 1990s because of an extreme stock market bubble, which was fleeting to say the least. Not very good comparisons frankly.
JustAnotherPat 9y ago
"haven't found work" is such a subjective determination. I don't think a statistic covering that is as useful as you think. Maybe these people who haven't found work just don't want to make $15 an hr working as a store clerk.
- JBlue42 9y ago
  This is an important point. I'm probably counted different now that my six months of unemployment have run out. I didn't necessarily 'turn down' work but I also didn't apply for jobs that would have me driving over an hour one way for $12-15 for what is supposed to be a somewhat experienced position (IT work w/ a lot of requirements). This is in LA so shit's already experience. Right now, I could've been working two weeks ago if a recruiter had had their shit together (interviewed and got job four weeks ago; actual paperwork took two weeks; when I could've started, they found out their contract w/ company had expired). It's very frustrating out here even having done the things the media bullhorn has said to do - work in tech, work in an office, etc etc.

IncRnd 9y ago

U-6 unemployment has been trending down not up over the last year. Looking at specific dates, raw U-6 is .9 less than a year ago. Seasonally adjusted U-6 is a full point less than a year ago. https://www.bls.gov/news.release/empsit.t15.htm https://www.bls.gov/news.release/empsit.t15.htm

Bartweiss 9y ago
For all the talk about different unemployment rates, U3 - U6 track each other shockingly closely. That said, OP's complaint still applies for LFPR or NEET percentage, which as far as I know are moving opposite U3-6?
- IncRnd 9y ago
  LFPR has been mostly unchanged since the end of 2013. https://data.bls.gov/timeseries/LNS11300000 https://data.bls.gov/timeseries/LNS11300000 I agree, though, the U numbers are basically the definition of "fake news" from the standpoint of what you mentioned.

tj-teej 9y ago

"if you count those who have dropped off" - I thought the definition of unemployment doesn't include those who're not looking?

opportune 9y ago
There are multiple different notions of employment (e.g. U1 through U6). The US government uses U3 https://en.wikipedia.org/wiki/Unemployment#United_States_Bureau_of_Labor_statistics https://en.wikipedia.org/wiki/Unemployment#United_States_Bur...

adventured 9y ago

The last time the US was at or near full employment per the U6 was 2006-2007, when it hit around 8%, courtesy of an extreme housing bubble. Before that it got below 8% in the late 1990s because of an extreme stock market bubble, which was fleeting to say the least. Not very good comparisons frankly.

JustAnotherPat 9y ago

"haven't found work" is such a subjective determination. I don't think a statistic covering that is as useful as you think. Maybe these people who haven't found work just don't want to make $15 an hr working as a store clerk.

JBlue42 9y ago
This is an important point. I'm probably counted different now that my six months of unemployment have run out. I didn't necessarily 'turn down' work but I also didn't apply for jobs that would have me driving over an hour one way for $12-15 for what is supposed to be a somewhat experienced position (IT work w/ a lot of requirements). This is in LA so shit's already experience. Right now, I could've been working two weeks ago if a recruiter had had their shit together (interviewed and got job four weeks ago; actual paperwork took two weeks; when I could've started, they found out their contract w/ company had expired). It's very frustrating out here even having done the things the media bullhorn has said to do - work in tech, work in an office, etc etc.