- Aug 4, 2009
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- #61
U6 now instead of U3?
Why didn't you insist on U6 when Bush was President?
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Why didn't you insist on U6 when Bush was President?
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Last edited:
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You fall for the party line more than anyone here.
And yet here you are singing from the identical songbook that Ilar is singing from this morning? Did you both get the same talking points from FauxNews today?
Sorry but the year did not see 5% growth that was one quarter.Economically, 2014 turned out to be a good year
3 milllion new jobs, 5% GDP growth, low inflation, falling gas prices and the strongest dollar in 9 years
I don't watch the news on the idiot box like you sheep do.
No I actually read newspapers.I don't watch the news on the idiot box like you sheep do.
So did you get your talking points from Breitbart or Drudge instead?
No I actually read newspapers.I don't watch the news on the idiot box like you sheep do.
So did you get your talking points from Breitbart or Drudge instead?
I don't look to opinion sites to get the news because unlike you sheep I don't need other people telling me what something I read means.
I don't watch the news on the idiot box like you sheep do.
No I actually read newspapers.
We,re currently into the 58th consecutive month of job growth in the private sector. The election was 2 months ago ... so what's your excuse for the first 56 months?Employers are encouraged by the GOP takeover of the Senate and additional House seats won.
Ummm ... the official unemployment rate is the U3.What Is the Real Unemployment Rate?
Is the Government Lying About the Real Unemployment Rate?
Definition: The realunemployment rate (U-6) is almost double the widely reported rate (U-3) issued in each month's jobs report. The Bureau of Labor Statistics (BLS) reports on both each month, but there isn't as much media attention paid to the real unemployment rate. However, it may paint a clearer picture of true unemployment in the United States.
In the widely reported unemployment rate (U-3), the BLS only counts those who have looked for a job in the past four weeks as unemployed. They're included in the labor force, because their jobless situation is only temporary (hopefully).
Once they haven't looked for a job in the past four weeks are no longer counted as unemployed or in the labor force. They are added to a group the BLS calls marginally attached.
Among them are the discouraged workers, who have given up looking for work altogether. The rest have gone back to school, gotten pregnant or become disabled. They may or may not eventually return to the labor force, depending on their circumstances.
Once they haven't looked for a job in 12 months, they're no longer counted as marginally attached. (Source: BLS, Definitions)
The BLS considers part-time workers as employed. However, it does count those who would are working part-time, but would prefer a full-time job. These people are consideredunderemployed.
The U-6, or real unemployment rate, includes everyone who wants a full-time job but doesn't have one. It counts the marginally attached (including discouraged workers) and the part-timers who would prefer a full-time job. As a result, the real or true unemployment rate is much higher.
Real Unemployment Rate Formula Using Current Statistics
In December 2014, the real unemployment rate (U-6) was 11.2%, nearly double the widely-reported unemployment rate (U-3) of 5.6%. Here's how to calculate both.
Step 1. Calculate the official unemployment rate:
U-3 = 8.688 million unemployed workers / 156.129 million in the labor force = 5.6%.
Step 2. Add in marginally attached workers: There were 2.260 million people who were marginally attached to the labor force. Add this to both the number of unemployed and the labor force.
U-5 = 10.948 million / 158.389 million = 6.9%.
Step 3. Add in part-time workers: There were 6.79 million people who were working part-time because they couldn't get full-time work, although they'd prefer it. Add them to the unemployed, they're already in the labor force.
U-6 = 17.738 million / 158.389 million = 11.2%. (Source: BLS, Table A-15)
What Is the Real Unemployment Rate Formula Examples
I've never understood this claim:What Is the Real Unemployment Rate?
Is the Government Lying About the Real Unemployment Rate?
Definition: The realunemployment rate (U-6) is almost double the widely reported rate (U-3) issued in each month's jobs report. The Bureau of Labor Statistics (BLS) reports on both each month, but there isn't as much media attention paid to the real unemployment rate. However, it may paint a clearer picture of true unemployment in the United States.
In the widely reported unemployment rate (U-3), the BLS only counts those who have looked for a job in the past four weeks as unemployed. They're included in the labor force, because their jobless situation is only temporary (hopefully).
Once they haven't looked for a job in the past four weeks are no longer counted as unemployed or in the labor force. They are added to a group the BLS calls marginally attached.
Among them are the discouraged workers, who have given up looking for work altogether. The rest have gone back to school, gotten pregnant or become disabled. They may or may not eventually return to the labor force, depending on their circumstances.
Once they haven't looked for a job in 12 months, they're no longer counted as marginally attached. (Source: BLS, Definitions)
The BLS considers part-time workers as employed. However, it does count those who would are working part-time, but would prefer a full-time job. These people are consideredunderemployed.
The U-6, or real unemployment rate, includes everyone who wants a full-time job but doesn't have one. It counts the marginally attached (including discouraged workers) and the part-timers who would prefer a full-time job. As a result, the real or true unemployment rate is much higher.
Real Unemployment Rate Formula Using Current Statistics
In December 2014, the real unemployment rate (U-6) was 11.2%, nearly double the widely-reported unemployment rate (U-3) of 5.6%. Here's how to calculate both.
Step 1. Calculate the official unemployment rate:
U-3 = 8.688 million unemployed workers / 156.129 million in the labor force = 5.6%.
Step 2. Add in marginally attached workers: There were 2.260 million people who were marginally attached to the labor force. Add this to both the number of unemployed and the labor force.
U-5 = 10.948 million / 158.389 million = 6.9%.
Step 3. Add in part-time workers: There were 6.79 million people who were working part-time because they couldn't get full-time work, although they'd prefer it. Add them to the unemployed, they're already in the labor force.
U-6 = 17.738 million / 158.389 million = 11.2%. (Source: BLS, Table A-15)
What Is the Real Unemployment Rate Formula Examples
I've never understood how someone can pretend to be interested but not bother to do a few seconds of research. Makes no sense.I've never understood this claim:
First, the claim is that the government is lying about the "real rate," yet the "real rate" is found in the same news release and calculated by the same people. I don't think I've ever heard anyone lying include the truth as well.
Second, since when is including people with jobs real unemployment? It's a bit odd for the article to specify that they are underemployed, but say including them is the real unemployment.
Side note: BLS does not refer to anything but the U-1, U-2, and U-3 as an unemployment rate, because the others include people who are not unemployed. They are rates of underutilization.
Third, the article is mistaken on its definition of marginally attached by imply
We have to work on thatWage growth is still stagnant..
Stick to photoshopTl;dr
You just can't help being stupid, can you!
We have to work on thatWage growth is still stagnant..
Any suggestions?