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- Dec 20, 2012
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Well, of course it should. But is it really that large?I think that the large numbers of working-age males who have dropped out of the count because they are no longer looking for work is something that deserves to be captured and discussed. That doesn't make me a nut, it makes me someone who appreciates the social capital generated by employment.
37.2 million men (age 16+ not in prison or an institution) who are neither working nor looking for work.
34.6 million of them do not want a job at this time.
2.6 million say they do want a job now, but 1.5 million have done absolutely nothing in the last year: not a single resume, ad, phone call, application, asking friends or family etc.
So, 1.1 million men who looked for work in the last year, but not the last month..."stopped looking."
203,000 say they could not start work now if offered a job.
Of those who are available now, but who just haven't started looking for work yet, 33,000 stopped looking for family reasons, 92,000 went back to school or entered training, 66,000 were sick, injured, or disabled and 376,000 for other personal reasons (lack of child care or transportation etc).
So no one is ignoring any groups.
But that has nothing to do with whether or not the unemployment rate is manipulate. I don't know of anyone, certainly no economist, that claims the U-3 encompasses the entire labor market situation.