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> However, as another comment says, it should be stable across time for the US, even if not directly comparable to other non-US populations. There are issues w
by astrange 3y ago
> However, as another comment says, it should be stable across time for the US, even if not directly comparable to other non-US populations.
There are issues with comparing some unemployment numbers over time in the US. For instance, if you sample all ages then the age structure of the country changes, and it'd be kinda bad if the employment rate of children and the elderly was up.
This one avoids that issue: https://fred.stlouisfed.org/series/LNS11300060 https://fred.stlouisfed.org/series/LNS11300060
Also, these numbers come from surveys, so it has the same issues where it's harder to reach people over time. I understand they're just about the best in the business at it though.
- egberts1 3y agoSo we ignore the elders working then, no? After all, the expanding Baby Boomers are backstopped and excluded from UE by the virtue of their Social Security payouts; we still have a UE formula problem.