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Thread: Current U-6 Unemployment Rate is 11.3%

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    Re: Current U-6 Unemployment Rate is 11.3%

    Quote Originally Posted by a351 View Post
    The same spiel every month. The U-6, which is not an unemployment rate, but a measure of underutilization, has declined by 6 percent since the end of the Recession and has mirrored the decline in the official rate to a nearly perfect degree. Those who latch onto this figure to the exclusion of all others do so for strictly political purposes.
    Of course there is zero politics on the part of the Obama administation, ZERO.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Current U-6 Unemployment Rate is 11.3%

    Quote Originally Posted by pinqy View Post
    Yes, it was. The only other category that has the 52 week time limit is Marginally Attached, which was a category introduced in 1994. Discouraged is a subset of marginally attached.
    And they're both subsets for people who are looking for work.

    Before 1994:
    Unemployed persons comprise all persons who did not work during the survey week, who made specific efforts to find a job within the past 4 weeks, and who were available for work during the survey week (except for temporary illness). Also included as unemployed are those who did not work at all, were available for work, and (a) were waiting to be called back to a job from which they had been laid off; or (b) were waiting to report to a new wage or salary job within 30 days.

    After 1994:
    Unemployed persons. All persons who had no employment during the reference week, were available for work, except for temporary illness, and had made specific efforts to find employment some time during the 4-week period ending with the reference week. Persons who were waiting to be recalled to a job from which they had been laid off need not have been looking for work to be classified as unemployed.

    Point out what you think changed besides waiting to start a job.
    The way CPS collected its data changed. This directly affected the structure of the reported unemployment duration distribution. This makes comparisons from the pre-redesign and post-redesign inaccurate.

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    Re: Current U-6 Unemployment Rate is 11.3%

    Quote Originally Posted by WallStreetVixen View Post
    And they're both subsets for people who are looking for work.
    No, they're not. The definition of marginally attached is did NOT look for work in the previous 4 weeks. They are NOT IN THE LABOR FORCE. The Unemployed, who did look in the previous 4 weeks, have no cut off.



    The way CPS collected its data changed. This directly affected the structure of the reported unemployment duration distribution. This makes comparisons from the pre-redesign and post-redesign inaccurate.
    To a degree, but you're still incorrect to claim those unemployed longer than 52 weeks are not counted.
    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.

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    Re: Current U-6 Unemployment Rate is 11.3%

    Quote Originally Posted by American View Post
    Of course there is zero politics on the part of the Obama administation, ZERO.
    The BLS is not really part of the administration. There is one political appointee, the Commissioner, who overlaps administrations. Dr. Keith Hall, a Bush appointee, was Commissioner until January 2012, then the acting commissioner was a career civil servant who started under Reagan. Obama only got his person in 2013.
    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.

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    Re: Current U-6 Unemployment Rate is 11.3%

    Quote Originally Posted by pinqy View Post
    No, they're not. The definition of marginally attached is did NOT look for work in the previous 4 weeks. They are NOT IN THE LABOR FORCE. The Unemployed, who did look in the previous 4 weeks, have no cut off.
    How do you figure they're not subsets? Its right here:

    Table A-16. Persons not in the labor force and multiple jobholders by sex, not seasonally adjusted

    To a degree, but you're still incorrect to claim those unemployed longer than 52 weeks are not counted.
    Maybe that part is inaccurate, but it still doesn't change the fact that major changes were made to CPS. That changes the unemployment metrics.

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    Re: Current U-6 Unemployment Rate is 11.3%

    [QUOTE=WallStreetVixen;1063843743]How do you figure they're not subsets? Its right here:

    Table A-16. Persons not in the labor force and multiple jobholders by sex, not seasonally adjusted
    Unemployed means wants a job, available for work, and looked for work in previous 4 weeks. Anyone not employed or unemployed is "not in the labor force.

    And read the definition of marginally attached: Data refer to persons who want a job, have searched for work during the prior 12 months, and were available to take a job during the reference week, but had not looked for work in the past 4 weeks.
    They're not currently looking for work.
    Maybe that part is inaccurate, but it still doesn't change the fact that major changes were made to CPS. That changes the unemployment metrics.
    To a degree, of course. Isn't better accuracy better?
    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.

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    Re: Current U-6 Unemployment Rate is 11.3%

    Unemployment means those currently on unemployment - NOT those who's benefits lapsed and are now jobless with no source of income in which the government ignores when fiddling with their stupid formulas (as if the formulas are honest anyway).

    This government does everything it can to make "things" seem more peachy than they are.....CBO is a perfect example of that. "no it will only cost 12 billion" then two years later its 40 billion - yeah better blame the frugal republicans..

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    Re: Current U-6 Unemployment Rate is 11.3%

    Quote Originally Posted by Mr.Nick View Post
    Unemployment means those currently on unemployment - NOT those who's benefits lapsed and are now jobless with no source of income in which the government ignores when fiddling with their stupid formulas (as if the formulas are honest anyway).

    This government does everything it can to make "things" seem more peachy than they are.....CBO is a perfect example of that. "no it will only cost 12 billion" then two years later its 40 billion - yeah better blame the frugal republicans..
    Cite your source. But also read the definition at Employment Situation Technical Note
    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.

  9. #69
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    Re: Current U-6 Unemployment Rate is 11.3%

    Quote Originally Posted by Mycroft View Post
    So? Does that make it good?
    Not necessarily. But it makes it better than the "best" Republican at job growth could do. That's the joke here, Republicans complaining about unemployment and blaming the President. It's hilarious.

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    Re: Current U-6 Unemployment Rate is 11.3%

    Quote Originally Posted by pinqy View Post
    Cite your source. But also read the definition at Employment Situation Technical Note
    You want numbers or reality?

    I think you trust the government too much... To prove your trust wrong give me an example of when our government was ever right when it came to fiscal spending or even the cost of war or anything for that matter. The CBO says one thing and it is 10x what the CBO expected.

    For some reason I don't think you care.
    Last edited by Mr.Nick; 10-08-14 at 04:38 PM.

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