Education is key Wrote:
-------------------------------------------------------
> Reality Wrote:
>
> > Actually, it's 14.7%. That's by the more
> complete
> > U6 number:
> >
> > U-6 Total unemployed, plus all persons
> marginally
> > attached to the labor force, plus total
> employed
> > part time for economic reasons, as a percent of
> > the civilian labor force plus all persons
> > marginally attached to the labor force.
> >
> >
http://www.bls.gov/news.release/empsit.t15.htm
>
> The table you are referring to is called the
> "ALTERNATIVE measures of labor underutilization"
> for a reason, and the figure you cite has as much
> meaningful value as the one listed in the CIA's
> World Factbook for "Manpower available for
> military service: males age 16-49: 73,270,043".
> It's the kitchen sink of employment numbers.
>
> Just look at the definition given for the category
> "all persons marginally attached to the labor
> force: those who currently are neither working
> nor looking for work but indicate that they want
> and are available for a job and have looked for
> work sometime in the past 12 months." Essentially,
> these are people that would take a job if offered
> one, but aren't even looking otherwise. Fine
> rock-ribbed conservative that you doubtlessly are,
> you would have to agree that this doesn't quite
> compare with "unemployed, but actively seeking
> work" which is reflected in "official unemployment
> rate" of 7.8%.
I'm well aware what the U-6 number is. I was simply providing the basis for the 14.7% number that people posted. The number itself is no more "skewed" than the head-line U-3 number. You just need to understand what's being counted - which is why I posted the definition. It's just a more comprehensive view of the total workforce and it's become more in view during this particular recession given the extended duration and many falling off or giving up who are no longer counted in U-3. It is what it is.
I'm not a Republican or Democrat so I'll leave the arguments about the rest of your post to someone else.