|
"In computing unemployment, they first disregard a third of the labor force as "non-participating."
This is politically motivated statistical reporting, and if it weren't done the Administration would be telling us we have Depression-era levels of unemployment.
There appears to be an underlying structural factor: although the size of labor force grew by over 300K in June, fewer than 200K of the new entrants got jobs, while the other third will temporarily show up in the unemployed column until they too get dropped as "non-participating."
The third of the population that is not in the labor force are:
-too young to work
-in school
-retired
-not looking for work
-disabled
-in institutions (prisons, hospitals, nursing homes, rehab centers, etc.)
These are, appropriately, not part of the work force, and they have never been part of the work force since the data were started in the 1940's.
|
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore