6 ms·
False -- the BLS reports 6 different metrics of Unemployment with every jobs report, more than half of which include "discouraged workers" Here's a graph of a
by 21echoes 12y ago
False -- the BLS reports 6 different metrics of Unemployment with every jobs report, more than half of which include "discouraged workers"
Here's a graph of a few of them over time: http://www.macrotrends.net/chart/1377/u6-unemployment-rate http://www.macrotrends.net/chart/1377/u6-unemployment-rate
- joe_the_user 12y agoEven your link lists the 6% as "official". 6% against 12% is pretty huge. It's the old "large print for the rubes, small print so we say we're aren't lying" trick.
- 21echoes 12y agoalright, let's look at the U-6 over time then: http://www.economicpopulist.org/content/u3-and-u6-unemployment-during-great-depression http://www.economicpopulist.org/content/u3-and-u6-unemployme... http://www.scribd.com/doc/82908801/Unemployment-and-Underemployment-1970-2012#scribd http://www.scribd.com/doc/82908801/Unemployment-and-Underemp... http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=1994&toYear=2015 http://portalseven.com/employment/unemployment_rate_u6.jsp?f... As is now hopefully obvious: 11% is a pretty normal number for U-6 (especially given the current U-3), and the only reason you think that's high is because you're used to hearing U-3. Which, of course, is why economists chose to focus on one number over time in the first place. Keep your conspiracy theories out of this, please.
- tsotha 12y agoHow do you explain the discrepancy between U-6 and the labor force participation rate?