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Current U-6 Unemployment Rate is 11.3%

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Current U-6 Unemployment Rate
October 3, 2014 by Tim McMahon Leave a Comment
Current U-6 Unemployment Rate is 11.3% BLS and 15.1% Gallup
Current U-6 Unemployment Rate:

For September 2014 the official U-6 unemployment rate fell from 12.0% to 11.3%. But the independently produced Gallup equivalent called the “Underemployment Rate” disagrees and is at 15.1% flat at 15.1% since July. So the differential between Gallup and BLS on supposedly the same data is 3.8%.
What is U-6?

U-6 is a broader measure of unemployment including discouraged workers and many consider U-6 to be”the Real Unemployment Rate” See: What is U-6 Unemployment? for the full definition of U-6 Unemployment.

(Chart too large to copy/paste here, see at link.)

As you can see from the chart below, the unadjusted U-6 unemployment rate was 15.2% in December 2011, 13.9% in November 2012 and it rose to 14.4% in December 2012. Previously, it bottomed at 14.1% in April 2012 but by July it bounced up again to 15.2% and in October the U-6 fell back to 13.9% just in time for the election. But by January 2013 it was back to 15.4%. By May it had fallen down to 13.4% but rose again in June to 14.6% before declining to 13.6% in August since then it bounced around the 13% level for a while before dropping to 11.8%.
Comparing U3 to U6

If you look at the chart below carefully you will see that the current U-3 unemployment rate is 6.5% which is significantly above the U-3 rate from 2006-2008. The current U-3 rate is almost equal to the U-6 unemployment rate during the 1999 -2001 period when U-6 bottomed at 6.3%.

You may also notice that when unemployment rises the gap between U-3 and U-6 also rises. For instance, in October 2000, unemployment was at the lowest levels on this chart with U-3 at 3.6% and U-6 was at 6.3%. For a difference of only 2.7%. But at the peak of unemployment in January 2010 U-3 was at 10.6% but U-6 shot all the way up to 18% for a difference of 7.4%. The following chart is a comparison of the Official Unemployment Rate U-3 to the broader U-6 Unemployment rate. We can see that U-6 is always higher than the often quoted U-3 “Unemployment Rate”.

Current U-6 Unemployment Rate | UnemploymentData.com

 
:roll: 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.
 


U-6 are on the outside looking in, while those on the "in" are used to calculate unemployment....

It's ****ing deception and I'm absolutely amazed how people buy such nonsense - considering their reality contradicts this "job growth" or "jobs added" nonsense.

Oh an who the hell knows if these people being employed are even US citizens - they could be in sourced for all I know or are here on temporary work visas writing computer code (programs) among other things......
 
U-6 are on the outside looking in, while those on the "in" are used to calculate unemployment....

Not quite, no. The U-6 number includes millions who are currently employed, hence why it's not an unemployment rate at all.

It's ****ing deception and I'm absolutely amazed how people buy such nonsense - considering their reality contradicts this "job growth" or "jobs added" non[/B]sense.

:lol: It's deception if you don't actually take 5 minutes to read up on how the numbers are calculated. Too tall a task for a lot of folks here.
 
:roll: 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.

What a crock - it's growing exponentially- especially kids coming to working age that cant find a job, and even those who take any job they can for cash under the table..

This is the worst US economic disaster I have experienced or ever read about...

But yeah keep on defending these clowns in government that think they know whats best for everyone.
 
What a crock - it's growing exponentially- especially kids coming to working age that cant find a job, and even those who take any job they can for cash under the table..

Objectively false. The U-6 has declined by 1.5 percent in the past year and 6 percent in the past 4 and change: Table A-15. Alternative measures of labor underutilization

5 minutes with the material that you're claiming to know could clear up all this confusion.

This is the worst US economic disaster I have experienced or ever read about...

:lamo Funny stuff right there. Maybe you should add a US History book to your reading list.
 
Not quite, no. The U-6 number includes millions who are currently employed, hence why it's not an unemployment rate at all.



:lol: It's deception if you don't actually take 5 minutes to read up on how the numbers are calculated. Too tall a task for a lot of folks here.

Yes they're in a void where they don't even count - so why even bother taking a census on these "unemployed" since the government shuns them..... And these asshats call themselves "liberals" hahaha...... A real liberal would care, a real libertarian would care, however a progressive wouldn't bat an eye to the problem - nor offer up a solution...

You know why this is??? because it's clear the government is trying to emulate the former USSR, North Korea or other nations that have an elitist class, an obedient class and then a class of peasants is established they're nothing more than cannon fodder the government wants those "peasants" to be loyal to the government and rely on them for welfare or to put food on their table - with a price of course.

Yeah, history does repeat itself....
 
Yes they're in a void where they don't even count - so why even bother taking a census on these "unemployed" since the government shuns them..... And these asshats call themselves "liberals" hahaha...... A real liberal would care, a real libertarian would care, however a progressive wouldn't bat an eye to the problem - nor offer up a solution...

You know why this is??? because it's clear the government is trying to emulate the former USSR, North Korea or other nations that have an elitist class, an obedient class and then a class of peasants is established they're nothing more than cannon fodder the government wants those "peasants" to be loyal to the government and rely on them for welfare or to put food on their table - with a price of course.

Yeah, history does repeat itself....
:lol: Just more top shelf Mr Nick analysis. If those dummies in Washington were like you we would be T̶o̶t̶a̶l̶l̶y̶ ̶F̶u̶c̶k̶e̶d̶ a lot better off!
 
Objectively false. The U-6 has declined by 1.5 percent in the past year and 6 percent in the past 4 and change: Table A-15. Alternative measures of labor underutilization

5 minutes with the material that you're claiming to know could clear up all this confusion.



:lamo Funny stuff right there. Maybe you should add a US History book to your reading list.

I don't give a **** what fudged numbers you spew - I see reality and reality trumps your fudged numbers... When I see closed stores left and right and mini-malls that are only 20% capacity with the only stores being corporate stores and all the small mom and pop stores gone - yea that is reality - your numbers are useless to me.
 
I don't give a **** what fudged numbers you spew - I see reality and reality trumps your fudged numbers... When I see closed stores left and right and mini-malls that are only 20% capacity with the only stores being corporate stores and all the small mom and pop stores gone - yea that is reality - your numbers are useless to me.
Well there's your problem. The bureau tends to collect data that represents the experience of the country as a whole, not Mr Nick-ville. Either way, your claim that it has skyrocketed is utterly and objectively wrong. Misinformation and Mr Nick. The new PB & J.
 
:lol: Just more top shelf Mr Nick analysis. If those dummies in Washington were like you we would be T̶o̶t̶a̶l̶l̶y̶ ̶F̶u̶c̶k̶e̶d̶ a lot better off!

I'm more educated in practical education than half those lawyers sitting on the hill....

Funny how everyone hates lawyers because how dense and irrational they are yet we elect them to represent us.

I know law - it's immoral and destroys the human spirit..... Most lawyers are psychopaths with drug addictions who believe they can get away with anything - and most are democrats...

I wanted to be a lawyer until I found out I had to sell my soul, morals and ethics to even do "justice" which IMO is an oxymoron....
 
Yes they're in a void where they don't even count -

I can't recall a time before Obama's presidency that anyone ever cared about so-called "underemployment"; a figure which has no foundation in objectivity. For what reason should employed people be counted as unemployed? In what rational world should a person be counted as unemployed because they think they should be earning a million dollar salary or because they want to be an astronaut instead of mopping floors? The answer is NONE. So-called "underemployment" is a job-satisfaction metric and nothing more.
 
I'm more educated in practical education than half those lawyers sitting on the hill....

Funny how everyone hates lawyers because how dense and irrational they are yet we elect them to represent us.

I know law - it's immoral and destroys the human spirit..... Most lawyers are psychopaths with drug addictions who believe they can get away with anything - and most are democrats...

I wanted to be a lawyer until I found out I had to sell my soul, morals and ethics to even do "justice" which IMO is an oxymoron....
Yeah, that was the deciding factor:lol:
 
Well there's your problem. The bureau tends to collect data that represents the experience of the country as a whole, not Mr Nick-ville. Either way, your claim that it has skyrocketed is utterly and objectively wrong. Misinformation and Mr Nick. The new PB & J.

What you call "misinformation" is either straight up truth or a divergence for something more sinister.

The government has don't nothing but lie to us for the past 120 years...... Gone is integrity and in is lies propaganda and secrecy...

Funny how we call other governments liars yet we expect our government to be benevolent, transparent - for the people by the people???
 
Yeah, that was the deciding factor:lol:

Yeah well I decided I wasn't going to defend the guilty or get involved in inside bull**** where peoples fates are traded for others...

I'm not God but lawyers think they are God, however in reality they're Satan....

That's why the good lawyers help people that got screwed over by the system so some ADA can put a star on his resume.

I know plenty of lawyers and they don't give a **** about reality or facts - they only care about winning, weather they put the wrong man in jail or not..... And these are the same egomaniacs that run for pubic office and win - why - because they know how to work a crowed - just like they know how to work a jury.
 
Yeah well I decided I wasn't going to defend the guilty or get involved in inside bull**** where peoples fates are traded for others....

Because in Mr.Nick's law school, they only taught criminal law and inside trading.
 
All is beautiful, all is grand, the world is wonderful and the jobless numbers are perfect - or so you would think by the Obama spin machine. (In other words, from them, nothing to see here, move on...)
 
I don't give a **** what fudged numbers you spew - I see reality and reality trumps your fudged numbers... When I see closed stores left and right and mini-malls that are only 20% capacity with the only stores being corporate stores and all the small mom and pop stores gone - yea that is reality - your numbers are useless to me.
Nick, in regards to the bolded: No ... not really.

What you're seeing is pretty typical business turnover. Even in a healthy economy around 25% of business fail within a year, 50% of business fail within 4 years, and by the first 10 years -- about 80% of businesses are dead and gone. The reasons behind that are countless. From poor book-keeping and poor management, to bad locations and bad market differentiation. Running a successful business is absurdly difficult and that leads to astoundingly high company mortality rates.

Which in cities like Chicago, that turnover is difficult to hide. Unlike rural or suburbans areas, companies aren't located on back roads scattered throughout the countryside. A city storefront is right out on the street and you cannot miss a "CLOSED" sign hanging on the door. Which is why, if you've been around long enough, it seems like every time you walk down a neighborhood street there's another closed store. However that's something that should be expected. If you moved to Chicago a year ago - it's entirely possible that up to 25% of the companies in your vicinity are now failed.
 
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:roll: 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.

And those rate declines arent all they are cooked up to be. In fact if our economy is actually getting back on track the U3 will rise. We are adding jobs slower than our population growth and those out of work have given up trying to get work

latest_numbers_LNS11300000_2004_2014_all_period_M09_data.gif


here’s the less rosy sign of the report. The improving job market does not seem to be pulling people who left the labor force over the last few years back into it. In fact the size of the labor force actually ticked down by 97,000 in September, which in and of itself is too small a number in too volatile a series to make much of, but is part of a longer trend of the size of the labor force holding steady rather than increasing.

Here, for example, are the proportion of Americans who are in the labor force (that is, either have a job or want one) and the proportion of Americans who have a job. We want to see both numbers rising, particularly given the sharp contraction in the labor force during an earlier phase of the recovery. Instead, the trend is flat.

Ironically, if that starts to change — if people do begin returning to the labor force in meaningful numbers, it would put upward pressure on the unemployment rate as it takes those people some time to find jobs. But it would signal increasing confidence and help restore some of America’s economic potential.

http://www.nytimes.com/2014/10/04/upshot/a-strong-jobs-report-charted.html?
 
Nick, in regards to the bolded: No ... not really.

What you're seeing is pretty typical business turnover. Even in a healthy economy around 25% of business fail within a year, 50% of business fail within 4 years, and by the first 10 years -- about 80% of businesses are dead and gone. The reasons behind that are countless. From poor book-keeping and poor management, to bad locations and bad market differentiation. Running a successful business is absurdly difficult and that leads to astoundingly high company mortality rates.

Which in cities like Chicago, that turnover is difficult to hide. Unlike rural or suburbans areas, companies aren't located on back roads scattered throughout the countryside. A city storefront is right out on the street and you cannot miss a "CLOSED" sign hanging on the door. Which is why, if you've been around long enough, it seems like every time you walk down a neighborhood street there's another closed store. However that's something that should be expected. If you moved to Chicago a year ago - it's entirely possible that up to 25% of the companies in your vicinity are now failed.

Turnover? these stores have been abandoned for 6-8 years - its NOTHING.... Maybe a Petco or a Target but the other 20-30 storefronts are gone...

I don't live in bummble**** Alabama either I live in urban Illinois between Chicago, Kenosha and Milwaukee....

These numbers do not commute to reality - they don't compute to their own equations...

I wasn't alive during the great depression and I was a baby when Carter had his stupidity and Clinton was ok - only because he promoted credit - and now as an adult I have to see this ****?

For someone who is educated and has to see this it is quite sad....

It's a ****ing ghost town - everyone is shutting their doors and I live in an urban area - the only damn thing that is surviving right now is fast food.

I'll post pics of this "ghost town" mini-mall later and numerous other ones I know of.
 
I don't give a **** what fudged numbers you spew - I see reality and reality trumps your fudged numbers... When I see closed stores left and right and mini-malls that are only 20% capacity with the only stores being corporate stores and all the small mom and pop stores gone - yea that is reality - your numbers are useless to me.

You said U-6 was growing exponentially and he just showed you what the U-6 numbers are.

Statistics might be useless to someone like you, but your personal observations and anecdotes are useless to everybody.

"My opinion trumps your data." Something only a conservative would say.
 
You said U-6 was growing exponentially and he just showed you what the U-6 numbers are.

Statistics might be useless to someone like you, but your personal observations and anecdotes are useless to everybody.

They're not growing they're expanding... A balloon can stretch right? inflate it with air it expands - get it?
 
Turnover? these stores have been abandoned for 6-8 years - its NOTHING.... Maybe a Petco or a Target but the other 20-30 storefronts are gone... I don't live in bummble**** Alabama either I live in urban Illinois between Chicago, Kenosha and Milwaukee.... these numbers do not commute to reality - they don't compute to their own equations... I wasn't alive during the great depression and I was a baby when Carter had his stupidity and Clinton was ok - only because he promoted credit - and now as an adult I have to see this ****? For someone who is educated and has to see this it is quite sad.... It's a ****ing ghost town - everyone is shutting their doors and I live in an urban area - the only damn thing that is surviving right now is fast food. I'll post pics of this "ghost town" mini-mall later and numerous other ones I know of.
There's no need. I live near the Andersonville neighborhood in Chicago. Last weekend I walked up there and counted the number of vacant stores and recent "out of business" companies. It's like 40+ from Montrose to Bryn Mawr.

But that's normal.

Icosium Kafé close because no one went to it. The same reason for T's Bar and that tapas restaurant. Toyko Marina closed because the owner retired. That's probably going to be the same for Women & Children First. Something like 4 of the knock-off fashion stores north of Montrose closed, because there's 20 of them there and they cannibalize each other. The Lawrence to Ainsle stretch smothers businesses one after another, probably because of the graveyard on the east side of the street. Pie Hole closed because it was insanely expensive for awful pizza across from Ranalli's. The Vitamin place closed. Sabrina closed. And on and on and on.

That's the normal pace of business. Those stores are apart of the 80% of small businesses that fail within the first 10 years. They're going to be replaced with more businesses, and 80% of them are going to fail. That's just how it works.
 
Current U-6 Unemployment Rate is 11.3%

Which is low for the U-6 rate. It hit almost 18% during the Bush recession for example. Keep in mind, many people counted in the U-6 rate are employed, they just are working part time and would rather work full time.
 
I don't give a **** what fudged numbers you spew - I see reality and reality trumps your fudged numbers... When I see closed stores left and right and mini-malls that are only 20% capacity with the only stores being corporate stores and all the small mom and pop stores gone - yea that is reality - your numbers are useless to me.

Sounds like you need to move to a more prosperous area. Here in the Kansas City area we have construction everywhere. That is why it is silly to try to judge the macro economics of the nation simply be looking at your neighborhood. If you live in Detroit you would think we are in the middle of a major economic depression, if you lived in Houston you would think the economy was is overdrive. Thus we have actual statistics - the ones that your are dismissing out of hand.
 
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