Real Unemployment Rate Is at Least 18 Percent

[longknife]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

But, for your own information, read the story @ Real Unemployment Rate Is at Least 18 Percent

 

[pinqy]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

But, for your own information, read the story @ Real Unemployment Rate Is at Least 18 Percent

I don't even have to look to know that they're using some completely bizarre definition of unemployed that no one in the world has ever accepted. My bet is that they're including some people who have jobs, and many others who don't want to work. Probably including disabled and possibly even prisoners.

Even if you included everyone who wants a job as unemployed, that would only bring the rate up to 9.6%

 

[pinqy]

After reading the article, it seems I was being generous. I'm surprised...I listen to Professor Morici on talk radio and generally agreed with him, but now he's talking out of his ass.

Adding in discouraged adults who say they would begin looking for work if conditions were better, those working part-time but say they want full time work, and the effects of immigration, the unemployment rate becomes about 15 percent—and that is a lower bound estimate.

Adding in the discouraged is the U-4 measure of underutilization and was 6.8% for June 2014. I have no idea what "effects of immigration" he could be adding to make it 15%...that would be adding about 15.6 million people to the U-4 and I have no clue where he would be getting that number from.

Many young people are being duped both by unscrupulous for profit, post-secondary institutions—as well as accredited colleges and universities with low admission standards—to enroll in useless programs. They would likely be in the labor force now but for easy access to federally sponsored loans and will end up heavily in debt.

Adding in these students, the real unemployment rate among U.S. citizens and permanent residents is at least 18 percent.

And now he's adding in students and assuming some arbitrary number "would be" working or looking for work except they were "duped" into going to school instead? That's another 6 million he's adding. The problem is that there are 14.3 million kids age 16-24 who are going to school. 5.2 million are already in the labor force, leaving 9.1 million not in the labor force. And he's claiming over 6 million should really be considered unemployed? Oh, but wait...I used 16-24, but he was only talking college students....there are only 5.7 million 20-24 year olds in school and 2.8 million are already in the labor force.

The math does not add up in any way.

And unlike Professor Morici, I can show my sources and math.

 

[editec]

July 14 2014
Looks like the worse case unemployment (U-6) is about 12%

Remember that's ONE IN EVERY EIGHT WORKERS

Sorry about the formatting but I presume ya'll can figure it out


HOUSEHOLD DATA
Table A-15. Alternative measures of labor underutilization

[Percent]
Measure Not seasonally adjusted Seasonally adjusted
June
2013 May
2014 June
2014 June
2013 Feb.
2014 Mar.
2014 Apr.
2014 May
2014 June
2014
U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force
3.9 3.1 2.8 4.0 3.5 3.5 3.2 3.1 2.9
U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force
3.8 3.0 3.0 3.9 3.5 3.5 3.4 3.2 3.1
U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate)
7.8 6.1 6.3 7.5 6.7 6.7 6.3 6.3 6.1
U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers
8.4 6.5 6.7 8.1 7.2 7.1 6.7 6.7 6.5
U-5 Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force
9.3 7.3 7.5 9.0 8.1 8.0 7.6 7.6 7.3
U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force
14.6 11.7 12.4 14.2 12.6 12.7 12.3 12.2 12.1

NOTE: Persons marginally attached to the labor force are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the past 12 months. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not currently looking for work. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule. Updated population controls are introduced annually with the release of January data.

Table A-15. Alternative measures of labor underutilization

 

[pinqy]

July 14 2014
Looks like the worse case unemployment (U-6) is about 12%

Remember that's ONE IN EVERY EIGHT WORKERS

Sorry about the formatting but I presume ya'll can figure it out


HOUSEHOLD DATA
Table A-15. Alternative measures of labor underutilization

[Percent]
Measure Not seasonally adjusted Seasonally adjusted
June
2013 May
2014 June
2014 June
2013 Feb.
2014 Mar.
2014 Apr.
2014 May
2014 June
2014
U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force
3.9 3.1 2.8 4.0 3.5 3.5 3.2 3.1 2.9
U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force
3.8 3.0 3.0 3.9 3.5 3.5 3.4 3.2 3.1
U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate)
7.8 6.1 6.3 7.5 6.7 6.7 6.3 6.3 6.1
U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers
8.4 6.5 6.7 8.1 7.2 7.1 6.7 6.7 6.5
U-5 Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force
9.3 7.3 7.5 9.0 8.1 8.0 7.6 7.6 7.3
U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force
14.6 11.7 12.4 14.2 12.6 12.7 12.3 12.2 12.1

NOTE: Persons marginally attached to the labor force are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the past 12 months. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not currently looking for work. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule. Updated population controls are introduced annually with the release of January data.

Table A-15. Alternative measures of labor underutilization

Note that BLS calls these alternate measures of UNDERUTILIZATION, not "unemployment." The marginally attached (including discouraged) are not unemployed and part time for economic reasons are most definitely employed.

 

[SteadyMercury]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

The sound of a poster with a long history of using really fucking stupid sources for threads, and well conditioned to others rightfully dismissing it as bilge.

 

[OnePercenter]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

But, for your own information, read the story @ Real Unemployment Rate Is at Least 18 Percent

I don't even have to look to know that they're using some completely bizarre definition of unemployed that no one in the world has ever accepted. My bet is that they're including some people who have jobs, and many others who don't want to work. Probably including disabled and possibly even prisoners.

Even if you included everyone who wants a job as unemployed, that would only bring the rate up to 9.6%

Are they also including retired folks.......like the Governor of Texas?

Perry Misleads on Jobs

 

[longknife]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

The sound of a poster with a long history of using really fucking stupid sources for threads, and well conditioned to others rightfully dismissing it as bilge.

Uh - Attack the messenger when you can't defend the message.

 

[SteadyMercury]

Uh - Attack the messenger when you can't defend the message.

Umm, see above your message was easily attacked.

Not that I've ever seen you stick around to debate or defend your latest infowars type bullshit thread.

 

[Howey]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

But, for your own information, read the story @ Real Unemployment Rate Is at Least 18 Percent

Let me explain this to you for the gazillionth time, although I doubt you can count beyond ten.

Yes, there are more unemployed people out there. Thanks to the 10,000 baby boomers retiring every single day.

 

[pinqy]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

But, for your own information, read the story @ Real Unemployment Rate Is at Least 18 Percent

Let me explain this to you for the gazillionth time, although I doubt you can count beyond ten.

Yes, there are more unemployed people out there. Thanks to the 10,000 baby boomers retiring every single day.

Ummm, that's a non sequitur: people retiring have no effect on the unemployment level. Some effect on the rate as that's fewer employed

 

[Youch]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

But, for your own information, read the story @ Real Unemployment Rate Is at Least 18 Percent

Exactly. And worse for the black population. Sad. And soooo avoidable..... And WHY do politicians not fix this? Because they need dependent voters.

 

[pinqy]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

The sound of a poster with a long history of using really fucking stupid sources for threads, and well conditioned to others rightfully dismissing it as bilge.

Uh - Attack the messenger when you can't defend the message.

I didn't attack the messenger...I disputed his facts. And yet you didn't respond to me.

 

[edthecynic]

The "real" unemployment rate is actually lower than the U-3 rate of 6.2%. There are about 5 million people working off the books in the underground economy.

 

[Faun]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

But, for your own information, read the story @ Real Unemployment Rate Is at Least 18 Percent

Let me explain this to you for the gazillionth time, although I doubt you can count beyond ten.

Yes, there are more unemployed people out there. Thanks to the 10,000 baby boomers retiring every single day.

While there are a lot of baby boomers retiring, I've seen no evidence that 10,000 are retiring every day.

 

[Iceweasel]

The "real" unemployment rate is actually lower than the U-3 rate of 6.2%. There are about 5 million people working off the books in the underground economy.

Illegal gains aren't considered employment. Try again.

 

[edthecynic]

Watch the left-wingers leap all over this because it's a Breitbart site story. Nothing about the facts reported or the truth.

“Truth? I don't want no damn truth!”

We hear it all the time.

But, for your own information, read the story @ Real Unemployment Rate Is at Least 18 Percent

Let me explain this to you for the gazillionth time, although I doubt you can count beyond ten.

Yes, there are more unemployed people out there. Thanks to the 10,000 baby boomers retiring every single day.

While there are a lot of baby boomers retiring, I've seen no evidence that 10,000 are retiring every day.

Actually nearly 3 out of 4 boomers retire by age 62 and 82% have retired by age 65. That is down from 89.2% retiring by age 65 in 1985.

 

[edthecynic]

The "real" unemployment rate is actually lower than the U-3 rate of 6.2%. There are about 5 million people working off the books in the underground economy.

Illegal gains aren't considered employment. Try again.

The underground economy actually exists, unlike the "effects of immigration" fabricated in the OP link. If you can count something that doesn't exist, then I can count something that does exist.
Try again.

 

[Iceweasel]

The "real" unemployment rate is actually lower than the U-3 rate of 6.2%. There are about 5 million people working off the books in the underground economy.

Illegal gains aren't considered employment. Try again.

The underground economy actually exists, unlike the "effects of immigration" fabricated in the OP link. If you can count something that doesn't exist, then I can count something that does exist.
Try again.

I made a statement of fact. I didn't try anything, you did. Illegal activities have always been with us. They've never figured into employment numbers. Einstein.

 

[Faun]

Let me explain this to you for the gazillionth time, although I doubt you can count beyond ten.

Yes, there are more unemployed people out there. Thanks to the 10,000 baby boomers retiring every single day.

While there are a lot of baby boomers retiring, I've seen no evidence that 10,000 are retiring every day.

Actually nearly 3 out of 4 boomers retire by age 62 and 82% have retired by age 65. That is down from 89.2% retiring by age 65 in 1985.

The numbers indicate there are about 10,000 baby boomers hitting the age of 62 every single day. To claim there are 10,000 baby boomer retiring every single day would assume that every single baby boomer works, which is of course, absurd.