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Sure I agree that the typically reported unemployment measure is best for measuring how easily people who want jobs can obtain them. However, so often this is
by alexilliamson 7y ago
Sure I agree that the typically reported unemployment measure is best for measuring how easily people who want jobs can obtain them. However, so often this is touted not only as an indicator of the overall economy, but even the well-being of society. The categories of people you mention that shouldn't be counted... all of those people live in and have an effect on society. If we're worried about the economy, it seems like we would want to know how much of our population (not just job seekers) are working, and how many people depend on the system without employment. And if we're worried about aggregate well-being, a number that takes into account the massive prison population seems better.
I'm not saying that the common unemployment rate is useless. Only that it's over-used, and used to answer questions it has no business answering. It feels like we're sweeping a lot under the rug and everyone is playing along.
- ckcheng 7y ago> If we're worried about the economy, it seems like we would want to know how much of our population (not just job seekers) are working, and how many people depend on the system without employment. Is joblessness specific enough to answer how many people depend on the system without employment? I thought it includes, among other people, people who aren't job seeking because they are happily supported by their spouse, or people who are happily living off of savings, and not any other system, for example.
- greglindahl 7y ago> The categories of people you mention that shouldn't be counted... all of those people live in and have an effect on society. Those people are counted. I'm not sure why you're flaming someone attempting to educate you about how they are counted. Hint: it takes more than one number, and, the government publishes more than one number.