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HeyBub[_3_] HeyBub[_3_] is offline
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Default The economy -- are we replacing or repairing?

Frank wrote:

I've been trying to find job statistics that make any sense to me.
I would like to know the actual employment percentages of the total
population over the past couple of decades. I think government
agencies are deliberately obfuscating for the administrations benefit.


The official "unemployment rate" is defined as those who are looking for
work compared to the size of the labor force. This rate has been computed
exactly the same way since 1940. Consider the basic definitions:
1. People with jobs are EMPLOYED
2. People who are jobless, looking for a job, and available for work are
UNEMPLOYED
3. Everybody else doesn't count (not looking for a job, not available for
work).

The "labor force" is defined as #1 plus #2 above.

Back when the definition was decided, the number of people in category #3
above was minuscule. Since then, category #3 has grown to be significant. It
is so significant today, that it masks the unemployment rate. That is, when
folks not looking for work are included as "unemployed", the unemployment
rate skyrockets this past year from 11% to 19%.