DIYbanter - View Single Post - How Real Americans Can Compete with "Hard Workin" Day Labor

krw

In article . com,
says...

trent wrote:
Leif Erikson wrote:

THE unemployment rate (called 'the headline number' in the monthly
survey) does NOT count everyone- only those who "had made specific
efforts to find employement sometime during the 4-week period ending
with the reference week." It does not count the number of people
without jobs.

Right, and rightly so. Not everyone without a job is looking for work.

Say you graduate high school and look for a full-time job for the
summer. You don't find one. During the summer, you'd be counted as
unemployed. At the end of the summer, your wise parents admonition
that you need more education finally sinks in, and you enroll in
community college as a full-time student. Are you unemployed? ****,
no!

If I was really smart I'd still be in school. Never. Leave. College.

trent

Why would Brent even consider the unemployment rate? He refuses to
acknowledge that economic data, like national debt, only has relevance
when compared to other relevant data, like the size of the economy or
ability to service debt.

You've just proven that you don't understand ratios.

Last time I checked the unemployment rate is
a measure of the number of unemployed vs the total pool of emplouable
workers.

No, it's the number of people

looking_for_employment/employed+looking_for_employment

If you aren't seeking employment you are *NOT* counted as
unemployed. ...seems to make sense to me!

Following his logic, he should be just whining that there
are X million of folks unemployed and that it's very, very bad, cause
it's a lot higher than it was 100 years ago.

Again, you have no clue what a ratio is.

Let me put it another way, if I have a $million income, do I sweat
a $10K credit card bill?

--
Keith