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Unemployment

JaxsonRaine
Posts: 3,606
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5/19/2012 2:07:31 AM
Posted: 4 years ago
Why do we use the U3 data for unemployment? I'm tired of hearing how unemployment is down, when so many people just aren't counted as unemployed anymore.

2005 - 5.1% Unemployment(U3), 8.9% U6
3.7% spread.
2008 - 5.8% Unemployment(U3), 10.5% U6
4.7% spread.
2011 - 8.9% Unemployment(U3), 15.9% U6
7% spread.

In actuality, our situation isn't that good. Let's look at it another way. In 2009, there were 139,877,000 employed persons and a 9.3% unemployment rate. In 2011, there were 139,869,000 employed persons and an 8.9% unemployment rate. So even with 4 million more people in the population, 10,000 less people were working in 2011 than in 2009(and yet unemployment went down).

http://www.bls.gov...

Basically, in 2011 we were 3.5 million jobs away from really being at 8.9% unemployment.
twocupcakes: 15 = 13
Apollo.11
Posts: 3,478
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5/19/2012 10:40:47 AM
Posted: 4 years ago
At 5/19/2012 2:07:31 AM, JaxsonRaine wrote:
Why do we use the U3 data for unemployment? I'm tired of hearing how unemployment is down, when so many people just aren't counted as unemployed anymore.

2005 - 5.1% Unemployment(U3), 8.9% U6
3.7% spread.
2008 - 5.8% Unemployment(U3), 10.5% U6
4.7% spread.
2011 - 8.9% Unemployment(U3), 15.9% U6
7% spread.

In actuality, our situation isn't that good. Let's look at it another way. In 2009, there were 139,877,000 employed persons and a 9.3% unemployment rate. In 2011, there were 139,869,000 employed persons and an 8.9% unemployment rate. So even with 4 million more people in the population, 10,000 less people were working in 2011 than in 2009(and yet unemployment went down).

http://www.bls.gov...

Basically, in 2011 we were 3.5 million jobs away from really being at 8.9% unemployment.

It's called retirement. The baby-boomers are just now retiring. Retirement age is 65. Baby-boomers were born from '45-50.
Sapere Aude!
JaxsonRaine
Posts: 3,606
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5/19/2012 10:50:55 AM
Posted: 4 years ago
At 5/19/2012 10:40:47 AM, Apollo.11 wrote:
At 5/19/2012 2:07:31 AM, JaxsonRaine wrote:
Why do we use the U3 data for unemployment? I'm tired of hearing how unemployment is down, when so many people just aren't counted as unemployed anymore.

2005 - 5.1% Unemployment(U3), 8.9% U6
3.7% spread.
2008 - 5.8% Unemployment(U3), 10.5% U6
4.7% spread.
2011 - 8.9% Unemployment(U3), 15.9% U6
7% spread.

In actuality, our situation isn't that good. Let's look at it another way. In 2009, there were 139,877,000 employed persons and a 9.3% unemployment rate. In 2011, there were 139,869,000 employed persons and an 8.9% unemployment rate. So even with 4 million more people in the population, 10,000 less people were working in 2011 than in 2009(and yet unemployment went down).

http://www.bls.gov...

Basically, in 2011 we were 3.5 million jobs away from really being at 8.9% unemployment.

It's called retirement. The baby-boomers are just now retiring. Retirement age is 65. Baby-boomers were born from '45-50.

Retirees are not included in the labor force, so they have nothing to do with unemployment rates. Unemployment is the percentage of the labor force that is unemployed, not the percentage of citizens.
twocupcakes: 15 = 13
Apollo.11
Posts: 3,478
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5/19/2012 1:23:38 PM
Posted: 4 years ago
At 5/19/2012 10:50:55 AM, JaxsonRaine wrote:
At 5/19/2012 10:40:47 AM, Apollo.11 wrote:
At 5/19/2012 2:07:31 AM, JaxsonRaine wrote:
Why do we use the U3 data for unemployment? I'm tired of hearing how unemployment is down, when so many people just aren't counted as unemployed anymore.

2005 - 5.1% Unemployment(U3), 8.9% U6
3.7% spread.
2008 - 5.8% Unemployment(U3), 10.5% U6
4.7% spread.
2011 - 8.9% Unemployment(U3), 15.9% U6
7% spread.

In actuality, our situation isn't that good. Let's look at it another way. In 2009, there were 139,877,000 employed persons and a 9.3% unemployment rate. In 2011, there were 139,869,000 employed persons and an 8.9% unemployment rate. So even with 4 million more people in the population, 10,000 less people were working in 2011 than in 2009(and yet unemployment went down).

http://www.bls.gov...

Basically, in 2011 we were 3.5 million jobs away from really being at 8.9% unemployment.

It's called retirement. The baby-boomers are just now retiring. Retirement age is 65. Baby-boomers were born from '45-50.

Retirees are not included in the labor force, so they have nothing to do with unemployment rates. Unemployment is the percentage of the labor force that is unemployed, not the percentage of citizens.

People who retire leave the labor force. Your numbers don't show the total influx of laborers. They show the net gain/loss. And the large number of retirees would skew those figures.
Sapere Aude!
JaxsonRaine
Posts: 3,606
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5/19/2012 1:48:27 PM
Posted: 4 years ago
At 5/19/2012 1:23:38 PM, Apollo.11 wrote:
At 5/19/2012 10:50:55 AM, JaxsonRaine wrote:
At 5/19/2012 10:40:47 AM, Apollo.11 wrote:
At 5/19/2012 2:07:31 AM, JaxsonRaine wrote:
Why do we use the U3 data for unemployment? I'm tired of hearing how unemployment is down, when so many people just aren't counted as unemployed anymore.

2005 - 5.1% Unemployment(U3), 8.9% U6
3.7% spread.
2008 - 5.8% Unemployment(U3), 10.5% U6
4.7% spread.
2011 - 8.9% Unemployment(U3), 15.9% U6
7% spread.

In actuality, our situation isn't that good. Let's look at it another way. In 2009, there were 139,877,000 employed persons and a 9.3% unemployment rate. In 2011, there were 139,869,000 employed persons and an 8.9% unemployment rate. So even with 4 million more people in the population, 10,000 less people were working in 2011 than in 2009(and yet unemployment went down).

http://www.bls.gov...

Basically, in 2011 we were 3.5 million jobs away from really being at 8.9% unemployment.

It's called retirement. The baby-boomers are just now retiring. Retirement age is 65. Baby-boomers were born from '45-50.

Retirees are not included in the labor force, so they have nothing to do with unemployment rates. Unemployment is the percentage of the labor force that is unemployed, not the percentage of citizens.

People who retire leave the labor force. Your numbers don't show the total influx of laborers. They show the net gain/loss. And the large number of retirees would skew those figures.

My numbers show that there were less working people in 2011 than in 2009. They also show that from 2009 to 2011 there was an increase of 3.5 million people who are no longer looking for work but want to. The skewed figure is the standard unemployment, which claims less people are unemployed because their benefits run out or because they become so discouraged they stop looking.

When you have millions who no longer are looking for work because they haven't been able to get hired, that's a problem.
twocupcakes: 15 = 13