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So true. And unemployment doesn’t take into account disenfranchised workers, which is significantly higher than it has been in recent history.
by alexwhb 3y ago
So true. And unemployment doesn’t take into account disenfranchised workers, which is significantly higher than it has been in recent history.
- xnx 3y agoWhat's the measure of disenfranchised workers? I couldn't find any good source.
- salawat 3y agoThat would be the basis measurement of the population of working age people not requesting and or not eligible for unemployment benefits, champ.
- alexwhb 3y agoI believe the technical economic term is “discouraged workers”. Someone correct me if I’m wrong. This is a useful resource on aspects not included in the unemployment metric: https://www.investopedia.com/financial-edge/0609/what-the-unemployment-rate-doesnt-tell-us.aspx#:~:text=Workers%20who%20have%20given%20up,or%20a%20full%2Dtime%20one https://www.investopedia.com/financial-edge/0609/what-the-un....
- xnx 3y agoAh, thank you. Found some useful links here: https://www.bls.gov/cps/lfcharacteristics.htm#discouraged https://www.bls.gov/cps/lfcharacteristics.htm#discouraged Seems like this measure of discouraged workers is down over the past 10 years: https://data.bls.gov/timeseries/LNS15026645 https://data.bls.gov/timeseries/LNS15026645
- alexwhb 3y agoI now remember what metric I was thinking of… participation rate. There was a charter data storytelling post about it a while ago that I’m not able to find. But apparently participation rate on the workforce are down. I don’t remember what time scale. But I believe that metric includes discouraged workers as well as people who have retired. But I believe the angle the article I read was talking was a post pandemic look… like lots of people retired early. I believe this has those numbers.. https://www.bls.gov/news.release/empsit.t01.htm https://www.bls.gov/news.release/empsit.t01.htm Here’s a chart: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab... I think this metric, like unemployment, is obviously nuanced and also could be showing an aging demographic and other such subtleties.
- deleted 3y ago[deleted]