Current Events > Unemployment statistics are bullshit

(+) Yeah! (+)

If you're unemployed for a certain length of time and have given up on looking for work (like the average CEman), the government considers you employed for their statistical purposes. In reality, we're looking at about 50% of the population actually not working.
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Source? Link?
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REMercsChamp posted...

In reality, we're looking at about 50% of the population actually not working.

I really hope you're not actually that deluded.
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COVxy posted...

REMercsChamp posted...

In reality, we're looking at about 50% of the population actually not working.

I really hope you're not actually that deluded.

Career students such as yourself are also counted as "employed". It's in the governments best interest to keep people in school as long as possible to keep these statistics healthy.
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REMercsChamp posted...

the government considers you employed for their statistical purposes.

Incorrect. The government stops counting you as part of the labor force.

It's not that it goes from 95/100 employed to 96/100, but from 95/100 to 95/99
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Actually, they don't count you unemployed. Therea d i fference between that and counting you employed
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REMercsChamp posted...

Career students such as yourself are also counted as "employed". It's in the governments best interest to keep people in school as long as possible to keep these statistics healthy.

I mean, I have a state salary, so I better be counted as employed lol.
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DevsBro posted...

Actually, they don't count you unemployed. Therea d i fference between that and counting you employed

SO if you're not unemployed what are you then? Stuck in the middle somewhere, between dimensions?
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COVxy posted...

REMercsChamp posted...

Career students such as yourself are also counted as "employed". It's in the governments best interest to keep people in school as long as possible to keep these statistics healthy.

I mean, I have a state salary, so I better be counted as employed lol.

Are student loans a "state salary" now?
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REMercsChamp posted...

DevsBro posted...

Actually, they don't count you unemployed. Therea d i fference between that and counting you employed

SO if you're not unemployed what are you then? Stuck in the middle somewhere, between dimensions?

You just don't exist as far as labor statistics go.
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REMercsChamp posted...

Are student loans a "state salary" now?

I don't think you understand how PhD programs work, lol.
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REMercsChamp posted...

DevsBro posted...

Actually, they don't count you unemployed. Therea d i fference between that and counting you employed

SO if you're not unemployed what are you then? Stuck in the middle somewhere, between dimensions?

Not in the workforce
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SO if you're not unemployed what are you then? Stuck in the middle somewhere, between dimensions?

Yep
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If you've exited the labor force then you aren't counted for anything.

__aCEr__ posted...

If you've exited the labor force then you aren't counted for anything.

How is being unemployed exiting the labor force?
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Might as well just say employment is 100%

"Anyone capable of having a job at the present time already has one"
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REMercsChamp posted...

How is being unemployed exiting the labor force?

The people who have given up looking for work. Not quite in the labor force, are they?

https://fred.stlouisfed.org/graph/fredgraph.png?width=880&height=440&id=CIVPART

REMercsChamp doesn't really know what he's talking about... What he's getting at is this, which is the labor participation rate. It's only ~60% because it also counts retired people, stay-at-home parents, students... It's fallen off in recent years because the Baby Boomers were an enormous generational cohort who are currently entering retirement. The Great Recession also had an adverse effect...

__aCEr__ posted...

REMercsChamp posted...

How is being unemployed exiting the labor force?

The people who have given up looking for work. Not quite in the labor force, are they?

Maybe it's because there weren't any jobs available for them?
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REMercsChamp posted...

If you're unemployed for a certain length of time and have given up on looking for work (like the average CEman), the government considers you employed for their statistical purposes. In reality, we're looking at about 50% of the population actually not working.

Where did you come up with the 50% number?
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ReignFury posted...

Where did you come up with the 50% number?

His ass. This is the number it feels like to him.
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REMercs topic
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There is also the Real Unemployment Rate, which is a more accurate estimate than the unemployment rate that always gets quoted... But even that's not anywhere near 50%. It's about as low as it's ever been recently.

http://www.gallup.com/poll/189068/bls-unemployment-seasonally-adjusted.aspx.aspx

It's true that the unemployment rate is just a irrelevant statistic as far as it's purpose regarding the general population is concerned.

It's real purpose is merely indicating the amount of people unemployed in the current workforce.
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You mean "not in the workforce," not "employed."
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Glass_Phantom posted...

https://fred.stlouisfed.org/graph/fredgraph.png?width=880&height=440&id=CIVPART

REMercsChamp doesn't really know what he's talking about... What he's getting at is this, which is the labor participation rate. It's only ~60% because it also counts retired people, stay-at-home parents, students... It's fallen off in recent years because the Baby Boomers were an enormous generational cohort who are currently entering retirement. The Great Recession also had an adverse effect...

Yeah labor participation is what most people are probably thinking of when it comes to unemployment, but they should have a separate statistic that only includes people who are of working age but not retired.
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It's a little bit like this here in the UK, although certainly not 50%. More like 20% if you include the underemployed and "inactive" people. 14% without the former.

http://uk.businessinsider.com/unemployment-in-the-uk-is-now-so-low-its-in-danger-of-exposing-the-lie-used-to-create-the-numbers-2017-7

It's maybe a surprise to some, but not to economists / people with some knowledge of economics. This sort of methodology is common I think, although whether it's the right measure to use is another matter.

Unemployment statistics aren't bullshit; they measure exactly what they purport to measure. The problem lies with politicians who draw dubious conclusions based on the numbers, and the statistically illiterate general public who believe them.

The unemployment rate is an important measure of the fundamental health of the economy, but of course no one statistic can tell the whole story. The labor force participation rate is declining faster than it should based on wide, generational population numbers. This is indicative of a deeper, chronic sickness in the US economy, which the unemployment rate isn't designed to capture.

Both stats have their uses.
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Damn looks line TC saw one statistic, got ass rustled, and rushed here to word vomit about it despite having no clue what he's talking about.

Impulsive little crybaby isn't he.
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I think TC is getting mixed up between the unemployment rate and what is considered to be out of the workforce.

If you are actively looking for work and are not working, then you're counted among the unemployment rate. Whereas, if you've stopped actively looking for employment altogether, you aren't counted among the labor force at all. There is no "in between" zone. Retirement isn't considered a part of either.

Unemployment Rate= Amount unemployed (using the definition above)/Labor Force (add together number of employed + number of unemployed) *100
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I learned something in this topic and TC looked silly

all in all great work CE
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Bok_Choi posted...

I learned something in this topic and TC looked silly

all in all great work CE

Speaking of unemployment statistics, this guy is on the all time world record!
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REMercsChamp posted...

Speaking of unemployment statistics, this guy is on the all time world record!

I've been working since I was 15

try again lmfao
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TC is one of the uninformed who thinks employment statistics were compiled differently under Obama.
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Yeah, I don't understand unemployment stats.
You can look up employment stats on the Bureau of Labor stats

https://data.bls.gov/timeseries/LNS12300000


It has barely changed at all since the 1950's

That_Happened posted...

Damn looks line TC saw one statistic, got ass rustled, and rushed here to word vomit about it despite having no clue what he's talking about.

Impulsive little crybaby isn't he.

Probably a millennial.
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Milkman5 posted...

Yeah, I don't understand unemployment stats.
You can look up employment stats on the Bureau of Labor stats

https://data.bls.gov/timeseries/LNS12300000


It has barely changed at all since the 1950's

It's almost as if most people would like to have a job that gives them spending money.
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Do people still take TC seriously
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REMercsChamp posted...

DevsBro posted...

Actually, they don't count you unemployed. Therea d i fference between that and counting you employed

SO if you're not unemployed what are you then? Stuck in the middle somewhere, between dimensions?

Holy shit this is gold
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i guess it depends how you count it?

the official unemployment rate is 4.3%

but... 95 million people are not working. ~30%.
this includes very old people, students, disabled.

are you really gonna send an 80 year old person to work?
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bump
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REMercsChamp posted...

If you're unemployed for a certain length of time and have given up on looking for work (like the average CEman), the government considers you employed for their statistical purposes. In reality, we're looking at about 50% of the population actually not working.

That was only true during the election. Now that Trump is in office the low rate is the real rate.
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Trump told me the unemployement rate was 42% you saying he was lying
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The unemployed statistic is actually counting NEETs, not literally everyone who is not working.
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ChromaticAngel posted...

counting NEETs

Such as yourself
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CADE FOSTER posted...

Trump told me the unemployement rate was 42% you saying he was lying

He changed his mind when he got in office. Now the real rate is the low one and it's all his doing.
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REMercsChamp posted...

ChromaticAngel posted...

counting NEETs

Such as yourself

I've been at my current job for almost 4 years. Don't project your life's failures on me.
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ChromaticAngel posted...

I've been at my current job for almost 4 years.

Is that supposed to be an accomplishment?
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REMercsChamp posted...

Is that supposed to be an accomplishment?

ChromaticAngel posted...

Don't project your life's failures on me.

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