- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Digging beneath the unemployment numbers, where are the workers going?
Posted on 5/19/14 at 11:07 am
Posted on 5/19/14 at 11:07 am
Interesting article
quote:
In the core age 25-54 age group, the population is down 1,053,000 but employment is down a whopping 4,614,000.
Thus, in the 25-54 age group, roughly 3,561,000 people are not working who should be working. The figure is higher if you include other age groups.
Ok, so back of the napkin math. April 2014 Unemployment is 6.3%. Seems good on paper, but doesn't seem like average joe is doing any better / worse than he used to be. What gives?
6.3% out of a total employment force of 155.5M, which is essentially 9.8M unemployed people. Add in the additional 3.6M that were working back in 2008 that are no longer working, and now you're at 8.6% unemployment. Makes sense. Things are getting better, but this explains why we aren't seeing an economy that normally corresponds with a 6.3% unemployment rate.
5
Posted on 5/19/14 at 11:17 am to ironsides
What does it matter?
Actually, good analysis. If we were told the truth about inflation, that picture would be pretty ugly as well.
If we just had some main stream way to tell the masses.
Actually, good analysis. If we were told the truth about inflation, that picture would be pretty ugly as well.
If we just had some main stream way to tell the masses.
Posted on 5/19/14 at 11:21 am to ironsides
why work and get taxed, when you can work under the table and not get taxed? Plus you can get unemployment benifits until you cant.
Posted on 5/19/14 at 11:25 am to ironsides
quote:
Things are getting better, but this explains why we aren't seeing an economy that normally corresponds with a 6.3% unemployment rate.
So this is why the Dems are pushing for increased welfare funding even though they say unemployment is at 6.3%?
Posted on 5/19/14 at 11:26 am to ironsides
quote:
Ok, so back of the napkin math. April 2014 Unemployment is 6.3%. Seems good on paper, but doesn't seem like average joe is doing any better / worse than he used to be. What gives?
6.3% out of a total employment force of 155.5M, which is essentially 9.8M unemployed people. Add in the additional 3.6M that were working back in 2008 that are no longer working, and now you're at 8.6% unemployment. Makes sense. Things are getting better, but this explains why we aren't seeing an economy that normally corresponds with a 6.3% unemployment rate.
the whole UE numbers are a complete scam. Its not a very telling number, and U3 is just not a good number to look at. U6 is right at 12%, and that seems much more like the economy we are seeing.
what is especially scary if you start to look at the demographics of who is unemployed. its the uneducated, under 25, over 50, and black men. They all have outsized unemployment numbers.
Posted on 5/19/14 at 1:56 pm to Hawkeye95
It would be interesting to see changes in labor participation corresponding to changes in unemployment, welfare, and disability benefits.
Posted on 5/19/14 at 2:00 pm to ironsides
well all of those series are public, it might be worthwhile to create a chart that does it, although it would be a helluva chart.
you could also throw in GDP growth in that too, that would be real interesting
you could also throw in GDP growth in that too, that would be real interesting
Posted on 5/19/14 at 2:37 pm to ironsides
quote:This would have to assume a 100% employment rate for the age group, no? If you are to assume that every new person in that age group should be working...
In the core age 25-54 age group, the population is down 1,053,000 but employment is down a whopping 4,614,000.
Thus, in the 25-54 age group, roughly 3,561,000 people are not working who should be working. The figure is higher if you include other age groups.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News