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http://www.shadowstats.com/alternate_data/unemployment-charts http://www.shadowstats.com/alternate_data/unemployment-chart... What about the 20 million working
by jl2718 5y ago
http://www.shadowstats.com/alternate_data/unemployment-charts http://www.shadowstats.com/alternate_data/unemployment-chart...
What about the 20 million working age on social security? Not counted.
21% of Americans are on means-tested public assistance, which, by definition, requires lack of sustainable employment. Not counted.
A huge number of students can’t find a job. Not counted.
Not that ‘employment’ is a meaningful measure of a society’s desirability.
- prepend 5y agoIt depends on what I’m trying to count. If someone is working age and on SSI, then they aren’t capable of working. The U3 number is trying to measure how much of the total workforce is able to find work. If I can’t or don’t want to work, I’m not part of the workforce. It’s not that unemployment rate is a measure of “desire ability” (whatever that means) but as a measure of how much labor is available and can work. It’s a useful economic measure, but not an absolute one.