Faun
Diamond Member
- Nov 14, 2011
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I find it cute how you think the margin of error discounts the unemployment rate.There are reliable numbers of about how many people are not in the labor force but want a job. And percentage-wise, that figure isn't much higher than before.That unemployment is not down.
There are no reliable statistics on the number of people who are unemployed but no longer receiving unemployment benefits. Those people are just out there like they don't even exist.
You should feel free to cite those reliable figures.
Retirement Among Baby Boomers Contributing To Shrinking Labor Force. According to The Washington Post, many economists agree the shrinking labor force participation rate is largely explained by a demographic shift, wherein "baby boomers are starting to retire en masse":
But since 2000, the labor force rate has been steadily declining as the baby-boom generation has been retiring. Because of this, the Federal Reserve Bank of Chicago expects the labor force participation rate to be lower in 2020 than it is today, regardless of how well the economy does.
In a March report titled "Dispelling an Urban Legend," Dean Maki, an economist at Barclays Capital, found that demographics accounted for a majority of the drop in the participation rate since 2002.
The incredible shrinking labor force - The Washington Post
No doubt the homeless, indigent, migrant populations all across this great nation, that apparently aren't really there , can be even happier about the dividends payed on your stock portfolio this year. Happy days.
At any rate, the short comings you mention, if they even exist, have been around since they began tracking unemployment rate, meaning since the BLS has published employment data, every single Republican president except for Reagan has increased the unemployment rate by the time they left office whereas not a single Democrat increased it.