protectionist
Diamond Member
- Oct 20, 2013
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- #21
There is no Unemployment rate until all the foreigners (legal & illegal) are removed from the workforce, and cease to be counted as "employed"No, that's not what the U-6 measures. The U-6 is Unemployed (not working but looked in last 4 weeks) plus Marginally Attached (not working looked in last 12 months but not last 4 weeks) and Part time for economic reasons (willing and able to work 35+ hours but worked less due to slow business or inability to find full time work) as a percent of the Employed plus Unemployed plus Marginally Attached.What kind of foolish question is that? 12.6% of people who had jobs are no longer employed.You support the concept that some people, who have jobs, including those who normally work full time but had a bad week, are "really" unemployed?The real unemployment rate according to Forbes.
Tackling The Real Unemployment Rate: 12.6%
Imagine being served your poolside drinks by a lawyer, or getting your chicken sandwich delivered by an experienced marketing professional. The first is a friend of mine, the second my waitress a few weeks ago. Both lost jobs due to economic downturns at their organizations. Both took available work to pay the bills while looking for new positions in their chosen professions.
My friend and the waitress are victims of a massive but hidden problem called underemployment. Watching falling unemployment numbers being reported at 6.2%, down from nearly 10% four years earlier, is simply misleading.
Despite the significant decrease in the official U.S. Bureau of Labor Statistics(BLS) unemployment rate, the real unemployment rate is over double that at 12.6%. This number reflects the government’s “U-6” report, which accounts for the full unemployment picture including those “marginally attached to the labor force,” plus those “employed part time for economic reasons.”
Tackling The Real Unemployment Rate 12.6 - Forbes
So, first, you don't have to have had a job to be either unemployed or marginally attached,
second, part time for economic reasons means they have a job (which is what I was referring to)
third it's not a percent of people who had jobs, it's a percent of people currently working, looking for work, or recently looked for work.
fourth, the U-6 is down to 11.2%
It's impressive that you got 4 things wrong in 10 words.
Apparently you are. The Unemployment rate has never ever been based on unemployment benefits. Unemployed is defined as not working, looked for work in previous 4 weeks, could start a job if offered. Doesn't matter if you were layed off, quit, retired and started looking for a part time job, never had a job, re-entering the labor force after a break.5.7% of the work force are collecting unemployment checks. 6.9% of the work force are no longer eligible. Are you trying to change Fahrenheit to Celsius?