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07-19-2015 01:57 PM
07-19-2015 02:08 PM
"i expect she is talking about what we in economics call the 'real' nemployment rate U6 which includes all those on the sidelines as well as those looking for work. the 'official' number just drops those people off - as if they didn't exist. many of those not actively searching now will come back and look at some point when the job market is better - some will not. we suspect many will come back because they cannot afford to be in retirement."
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How do those of you in economics come up with a figure supposedly well into double digits, and can you tell us what that rate has been over the years and what it is now?
I'm very interested in the studies showing that and the statistical measurements used.
07-24-2015 10:08 PM
@NoelSeven wrote:
"a jobless rate well into the double figures"
If you mean the unemployment rate, you are way off.
For June of this year it was 5.3%.
http://www.bls.gov/news.release/pdf/empsit.pdf
We're talking the real rate. Use the site you mention to do some research. You have to include people who have dropped out of the entire job market. We have the lowest job participation rate in nearly 40 years, and the gov puts a part-time job at a restaurant on the same level as a full-time engineer.
You're talking about apples and oranges.
07-24-2015 10:10 PM
@blahblahvampemerblah wrote:
@NoelSeven wrote:
"a jobless rate well into the double figures"
If you mean the unemployment rate, you are way off.
For June of this year it was 5.3%.
http://www.bls.gov/news.release/pdf/empsit.pdf
We're talking the real rate. Use the site you mention to do some research. You have to include people who have dropped out of the entire job market. We have the lowest job participation rate in nearly 40 years, and the gov puts a part-time job at a restaurant on the same level as a full-time engineer.
You're talking about apples and oranges.
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