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I think that last point is what they are referring to with the unemployment rate not counting you after some period of time, and it’s true- if you are “discoura
by gymbeaux 3y ago
I think that last point is what they are referring to with the unemployment rate not counting you after some period of time, and it’s true- if you are “discouraged”, you aren’t counted in that unemployment rate figure that people like to refer to (U-3 I guess?).
- gruez 3y agoThat's directly contradicted by the definitions on the BLS site. If don't have a job, want a job, and tried to look for a job in the last 4 weeks, you're counted towards the U3 number. Aside from the "tried to look for a job in the past 4 weeks", how long you've been unemployed doesn't factor into it.
- gymbeaux 3y agoYeah what I'm saying is if I didn't try looking for a job in the last four weeks, I am not counted in that figure. So even though I have been unemployed for the last 6 months, I've apparently only been counted in U-3 as of January because that's when I started looking and applying.
- gruez 3y agoIf you aren't even trying, that's why should you be counted towards unemployment? The only reason I can think of is the naive thinking that "unemployment = 100% - employment", which anyone who does a cursory search will find out is wrong. Accusing the statistic as "fake", implying that there's some sort of deception going on when the explanation is readily available makes as much sense as accusing 2x4s as being "fake" because they don't measure 2 inches by 4 inches.
- gymbeaux 3y agoI don't really have a dog in the fight, I'm just trying to bridge the communication gap between you and the other guy.