This is all over the internet — but h/t to my friend NP.
It sorta feels good to lie to ourselves and say that unemployment is 10% when it’s really upwards of 17%.
This is all over the internet — but h/t to my friend NP.
It sorta feels good to lie to ourselves and say that unemployment is 10% when it’s really upwards of 17%.
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Ok, that cheered me up and I am unemployed. In Michigan. Gah!
It is difficult to make BLS unemployment stats amusing but this clip is a fun way to explain how these stats are calculated. Thanks!
The unemployed + Marginally employed statistics runs about 65% to 80% larger than the official unemployment stats. Even at the peak of the dot.com hiring boom, this metric only went under 7% three times.
This lie has been there
Below is a link to historical tables. U-3 is the official measure. U-6 is the official + marginial. Most people use the seasonal adjusted. The differences can be compared
http://www.bls.gov/webapps/legacy/cpsatab12.htm
Hey Lori,
Thanks for the Monday morning cheer! This is the reality of the job market, but we, the unemployed, are supposed to stay positive. Hmmmm. (see my own rant on that rappingmomsrants.wordpress.com)
And we’re supposed to get excited by the tiny sparks that business is improving?
To quote that old lady at the burger counter:
WHERE’s the beef?
Anyway, you rock! Love your site!
Debbie
NJ
Very funny – thanks L, liked this! 17% feels about right…
Glad everyone likes this.