Now what event happened in early 2009...hmmmmm?
This is NOT just people retiring. This is clearly people giving up looking for work as well.
Plus, of those that did retire, how many did so strictly because they could not find work?
Btw, I am neither dem or rep.
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."
It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
"Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911
No they don't. They aggregate the survey response. The standards are the same as always and respondents are categorized by what they say.The heads are still counted, they just shift them into a different category.
Yeah, I'm familiar with that one. He seems to think that the unemployed aren't directly measured, but an arbitrary labor force participation is applied and they're calculated that way. He seems to think the government changes the labor force participation rate and that changes the unemployment rate. That's just bizarre.Here's a good article (Don't worry, it has pretty pictures and graphs for those of you that don't like to read and only get your news from sound bites.)
How The Government Manipulates Unemployment Statistics
Every month a survey is conducted base on a single reference week.The categories we're interested in are...
Population: Everyone in the U.S. age 16 and older who is not in the military, prison, or an institution.
Employed: Worked at least one hour for pay or 15+ hours unpaid on a family business or farm. Those who have a job but were absent due to temporary injury/illness, vacation, weather, or a strike are still classified as employed.
Unemployed: Wants a job, could have started work during the reference week, actively looked for work in the 4 weeks ending with the reference week. Those on temporary layoff do not have to have looked.
Labor Force: Employed plus Unemployed.
Labor Force Participation: Labor Force divided by population.
Not in the labor force: everyone in the population neither employed nor unemployed.
So the BLS doesn't and can't "shift" people. They just tally up the answers.
No, they're not counted if they're not looking. There are no assumptions.... the government is effectively saying that because the job situation has been so bad for many millions of unemployed people in their 40s, 30s, 20s and teens, they can no longer be considered to be potential participants in the work force at all. Because there is no hope for them - they no longer need to be counted.
The whole idea of a "constant participation rate" is ridiculous. You're no longer counting actual unemployed, you're using some bizarre hypothetical number.
Therefore, since the world has still/Much good, but much less good than ill,
And while the sun and moon endure/Luck's a chance, but trouble's sure,
I'd face it as a wise man would,/And train for ill and not for good.
Perhaps you need to revisit your conclusions.
To her Wall Street owners: Hillary Clinton: “But if everybody's watching, you know, all of the back room discussions and the deals, you know, then people get a little nervous, to say the least. so, you need both a public and a private position.” - Hillary Clinton: "I'm kind of far removed from the struggles of the Middle Class"