It's worse then that. They counted stints on certain temperary jobs as seperate jobs flooding the market.
So you get let go and rehired every four months for a year, then rehired, that's three jobs to the tally for the year..
A job I had with the post office use to do that, to skirt around union labor laws. They can't hire someone for more then a few months, so you're cut loose for two weeks, then let back on. Rinse-repeat.
__________________ What CDTM believes;
Never let anyone else define you. Don't be a jerk just to be a jerk, but if you are expressing your true inner feelings and beliefs, or at least trying to express that inner child, and everyone gets pissed off about it, never NEVER apologize for it. Let them think what they want, let them define you in their narrow little minds while they suppress every last piece of them just to keep a friend that never liked them for themselves in the first place.
Is Trump doing this in his "press releases" and statements? Obama did this and some people correctly pointed out how misleading and dishonest Obama was for saying he's added jobs.
Partially. But they stop tracking them after a certain period of time. They call these "discourged" and this is what the U5 adds. The U6 adds on the underemployed (combines all "these).
"I need a job but cannot get one" counts and I believe only for 6-12 months (I don't remember). But if you report that you need a job and are looking but have no been employed for...say..2 years, you are not counted.
A very telling sign of the health of the economy is labor force participation rates. When people tell me the economy has healed, we just have to take a look at labor force participation rates and median household incomes (adjusted for inflation) to see we have still not recovered from the .com bubble bust.
If fewer people are working, how is it possible that income has gone up? That clearly indicates that income is more concentrated to fewer wage earners.
What I'd like to see is "True Mean Income - Individual" over time. That's a stat that would be telling. And it needs to include all working-age adults. All of them.
KMC Community Forums
May 23rd, 2018 10:23 PM
