4 ms·

And probably also low because every unemployed person drops off the list after 6 months AFAIK.

by shagymoe 3y ago

111111IIIIIII 3y ago
Yes, but you aren't supposed to know that.
- lotsofpulp 3y ago
  Oh shit, someone should tell the government to take these webpages down then. https://www.bls.gov/news.release/empsit.t15.htm https://www.bls.gov/news.release/empsit.t15.htm https://fred.stlouisfed.org/series/u6rate https://fred.stlouisfed.org/series/u6rate https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab...
  - douglasisshiny 3y ago
    Don't forget about prime age labor participation rate: https://fred.stlouisfed.org/series/LNS11300060 https://fred.stlouisfed.org/series/LNS11300060.
    - 111111IIIIIII 3y ago
      Definition?
      - douglasisshiny 3y ago
        It's the percentage of people aged 25-54 (prime age) who are either employed or unemployed and looking for work. It's considered a good indicator of the health of the labor market.
  - 111111IIIIIII 3y ago
    How insufferable and/or out of touch and/or smartass does one have to be to pretend this qualifies as popularly accessible information? I cannot even imagine...
gruez 3y ago
>And probably also low because every unemployed person drops off the list after 6 months AFAIK. Source? The BLS definition for U3 (ie. the figure that's referenced when people talk about "unemployment") doesn't say anything about 6 months.
- shagymoe 3y ago
  Here's some lazy ChatGPT info: However, there are certain factors that can lead to individuals falling out of the official unemployment statistic: Discouraged Workers: If individuals become discouraged and stop actively seeking employment, they may no longer be counted as part of the labor force or in the unemployment rate calculation. Underemployed Workers: The unemployment rate may not fully capture those who are working part-time but would prefer full-time employment. These individuals are considered part of the employed category, even if their work hours are insufficient. Marginally Attached and Particular Job Seekers: Some individuals may have searched for employment in the past but have not actively sought employment in the four weeks preceding the survey. They are classified as marginally attached to the labor force and are not considered part of the unemployed category. Involuntary Part-Time Workers: People who are working part-time due to economic reasons, such as inability to find full-time work, are included in the employed category but may not be fully reflected in the unemployment rate.
  - gruez 3y ago
    Right, but none of them mentions 6 months. If you're going to use chatgpt at least give a cursory glance to see whether the response is applicable to the topic at hand. I already know that U3 excludes some jobless people, but I'm asking specifically about the 6 months part.

And probably also low because every unemployed person drops off the list after 6 months AFAIK.

111111IIIIIII 3y ago

Yes, but you aren't supposed to know that.

lotsofpulp 3y ago
Oh shit, someone should tell the government to take these webpages down then. https://www.bls.gov/news.release/empsit.t15.htm https://www.bls.gov/news.release/empsit.t15.htm https://fred.stlouisfed.org/series/u6rate https://fred.stlouisfed.org/series/u6rate https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab...
- douglasisshiny 3y ago
  Don't forget about prime age labor participation rate: https://fred.stlouisfed.org/series/LNS11300060 https://fred.stlouisfed.org/series/LNS11300060.
  - 111111IIIIIII 3y ago
    Definition?
    - douglasisshiny 3y ago
      It's the percentage of people aged 25-54 (prime age) who are either employed or unemployed and looking for work. It's considered a good indicator of the health of the labor market.
- 111111IIIIIII 3y ago
  How insufferable and/or out of touch and/or smartass does one have to be to pretend this qualifies as popularly accessible information? I cannot even imagine...

gruez 3y ago

>And probably also low because every unemployed person drops off the list after 6 months AFAIK. Source? The BLS definition for U3 (ie. the figure that's referenced when people talk about "unemployment") doesn't say anything about 6 months.

shagymoe 3y ago
Here's some lazy ChatGPT info: However, there are certain factors that can lead to individuals falling out of the official unemployment statistic: Discouraged Workers: If individuals become discouraged and stop actively seeking employment, they may no longer be counted as part of the labor force or in the unemployment rate calculation. Underemployed Workers: The unemployment rate may not fully capture those who are working part-time but would prefer full-time employment. These individuals are considered part of the employed category, even if their work hours are insufficient. Marginally Attached and Particular Job Seekers: Some individuals may have searched for employment in the past but have not actively sought employment in the four weeks preceding the survey. They are classified as marginally attached to the labor force and are not considered part of the unemployed category. Involuntary Part-Time Workers: People who are working part-time due to economic reasons, such as inability to find full-time work, are included in the employed category but may not be fully reflected in the unemployment rate.
- gruez 3y ago
  Right, but none of them mentions 6 months. If you're going to use chatgpt at least give a cursory glance to see whether the response is applicable to the topic at hand. I already know that U3 excludes some jobless people, but I'm asking specifically about the 6 months part.