4 ms·

Yup. Letting people "drop out of the workforce" is the perfect way to let you produce any number you want. Any measure other than number of people with jobs div

Yup. Letting people "drop out of the workforce" is the perfect way to let you produce any number you want. Any measure other than number of people with jobs divided by US population is is suspect and likely corrupt.

actuallyalys 3y ago
I think this perspective is simplistic, but the U.S. government does produce basically this number (although I think they exclude children): https://fred.stlouisfed.org/series/EMRATIO https://fred.stlouisfed.org/series/EMRATIO. Currently it's 60.2 percent, a value higher than immediately after the major COVID layoffs or the 2008 financial crisis but lower than peaks in the 80s, 90s, or 00s. Most of this drop is because of the U.S.'s aging population. Looking at the same ratio from people between 25 and 54 shows it's 80.6 percent, about as high as ever: https://fred.stlouisfed.org/series/LNS12300060 https://fred.stlouisfed.org/series/LNS12300060.
- ipaddr 3y ago
  This is interesting. I think 25 to 54 is the key working age range. I'm curious if homemaker or stay at home dad is represented
  - actuallyalys 3y ago
    Yeah, economists sometimes call it "prime age." I'm not sure what you mean by "represented"? Someone who doesn't have a job in order to be a caretaker or keep up a household would count as not employed, even though those people are still doing work. (The same would apply for people without jobs and spend their time in school or volunteering.) They do ask why people aren't working in government surveys, so that information is available to analyze. I wasn't able to quickly find an overall recent figure, but there is a figure for people who are technically in the labor force but haven't looked for work in the last month: https://www.bls.gov/web/empsit/cpseea38.htm https://www.bls.gov/web/empsit/cpseea38.htm. And I also found an older figure: https://www.bls.gov/opub/btn/volume-4/people-who-are-not-in-the-labor-force-why-arent-they-working.htm https://www.bls.gov/opub/btn/volume-4/people-who-are-not-in-....
throwaway5959 3y ago
My mom and dad are retired. Should they impact the unemployment rate? They never plan on having a job ever again.

actuallyalys 3y ago

I think this perspective is simplistic, but the U.S. government does produce basically this number (although I think they exclude children): https://fred.stlouisfed.org/series/EMRATIO https://fred.stlouisfed.org/series/EMRATIO. Currently it's 60.2 percent, a value higher than immediately after the major COVID layoffs or the 2008 financial crisis but lower than peaks in the 80s, 90s, or 00s. Most of this drop is because of the U.S.'s aging population. Looking at the same ratio from people between 25 and 54 shows it's 80.6 percent, about as high as ever: https://fred.stlouisfed.org/series/LNS12300060 https://fred.stlouisfed.org/series/LNS12300060.

ipaddr 3y ago
This is interesting. I think 25 to 54 is the key working age range. I'm curious if homemaker or stay at home dad is represented
- actuallyalys 3y ago
  Yeah, economists sometimes call it "prime age." I'm not sure what you mean by "represented"? Someone who doesn't have a job in order to be a caretaker or keep up a household would count as not employed, even though those people are still doing work. (The same would apply for people without jobs and spend their time in school or volunteering.) They do ask why people aren't working in government surveys, so that information is available to analyze. I wasn't able to quickly find an overall recent figure, but there is a figure for people who are technically in the labor force but haven't looked for work in the last month: https://www.bls.gov/web/empsit/cpseea38.htm https://www.bls.gov/web/empsit/cpseea38.htm. And I also found an older figure: https://www.bls.gov/opub/btn/volume-4/people-who-are-not-in-the-labor-force-why-arent-they-working.htm https://www.bls.gov/opub/btn/volume-4/people-who-are-not-in-....

throwaway5959 3y ago

My mom and dad are retired. Should they impact the unemployment rate? They never plan on having a job ever again.