You’re talking about people not in the labor market? That’s another number you can look up, you know…it’s down a few percentage points from 2000, but holding steady in line with the past 5 years, after a sharp drop due to COVID.
Two things to consider: first, a low rate of unemployment means it’s much easier for those people to rejoin the labor force, if they want. And second, this includes people of all ages, including the Boomers, who are retiring en masse, which I would guess largely explains the rise starting in the mid 70s, as the boomers hit working age, and the fall starting in 2010, when the first of them started to retire.
As far as participation by “working age” people who are able to work, I see a sharp fall from 80.5% in ~2006 (pre-financial crisis) alll the way down to 77.5% today. And of course, you can factor in boomers retiring early there. Oh, and actually that only includes men, so we should also consider shifting social mores: it’s far more acceptable for a man to be a stay-at-home parent than it used to be, for example.
Altogether…I still don’t find the comic very timely.
That’s not it, unemployed is someone who doesn’t have a job but is looking for one. If you don’t have a job and isn’t looking for one, that doesn’t go into the calculation otherwise my wife and kids would be counted as unemployed.
When I was 8, my parents taught me how to do a handstand. That’s when I stopped using the potty. Is it messy? Yes, sometimes, if you don’t trickle it right. But handstand shitting has worked for me for decades now.
No, that’s not what happened. See my reply. It’s true that the unemployment rate only factors in people who are actively working or looking for work: if you don’t look for work for a certain number of months, you aren’t factored in the ‘labor market’ anymore, so children and retirees aren’t included, but also stay-at-home parents, people playing games in their parents’ basement, people who took a few years off to travel, etc.
But that number hasn’t changed dramatically in the past few years (well, except of course for a sharp rise in 2020 followed by a quick fall in 2021…). It has risen in the past few decades, but there are reasons for that (boomers aging out of the labor force, for example).
There’s not some crazy new secret unemployment crisis.
It is a thing, people who aren’t actively looking for work (or working) aren’t factored into unemployment numbers. A stay-at-home parent isn’t considered unemployed, or the unemployment numbers would be closer to 40%.
Basically, the unemployment rate means: what share of people are looking for work, but can’t find any?
This also means that there’s a certain number of people who try to find work, aren’t able to find any, and eventually just give up to (stereotypically) move into their parents’ basement or whatever. I take it that AFaithfulNihilist is implying that the number of those people is rising significantly, but there’s not really any evidence for that.
We also have numbers on discouraged workers. BLS publishes all of those numbers, it’s not like they’re a secret. It just tells you a lot less than the mainline number.
It turns out unemployment is low if you don’t count most of the people that are unemployed!
You’re talking about people not in the labor market? That’s another number you can look up, you know…it’s down a few percentage points from 2000, but holding steady in line with the past 5 years, after a sharp drop due to COVID.
Two things to consider: first, a low rate of unemployment means it’s much easier for those people to rejoin the labor force, if they want. And second, this includes people of all ages, including the Boomers, who are retiring en masse, which I would guess largely explains the rise starting in the mid 70s, as the boomers hit working age, and the fall starting in 2010, when the first of them started to retire.
As far as participation by “working age” people who are able to work, I see a sharp fall from 80.5% in ~2006 (pre-financial crisis) alll the way down to 77.5% today. And of course, you can factor in boomers retiring early there. Oh, and actually that only includes men, so we should also consider shifting social mores: it’s far more acceptable for a man to be a stay-at-home parent than it used to be, for example.
Altogether…I still don’t find the comic very timely.
Unemployment rate only includes those in the labour force- those of retirement age, underage or not able to work aren’t included.
They are however factored into the employment rate… just to fuck with you.
That’s not it, unemployed is someone who doesn’t have a job but is looking for one. If you don’t have a job and isn’t looking for one, that doesn’t go into the calculation otherwise my wife and kids would be counted as unemployed.
The method for measuring unemployment hadn’t changed for decades.
deleted by creator
probably because people who aren’t seeking employment by definition AREN’T UNEMPLOYED
When I was 8, my parents taught me how to do a handstand. That’s when I stopped using the potty. Is it messy? Yes, sometimes, if you don’t trickle it right. But handstand shitting has worked for me for decades now.
why are dutch people like this
Is that what has happened?? Doctored statistics or some shit? Curious to know more.
No, that’s not what happened. See my reply. It’s true that the unemployment rate only factors in people who are actively working or looking for work: if you don’t look for work for a certain number of months, you aren’t factored in the ‘labor market’ anymore, so children and retirees aren’t included, but also stay-at-home parents, people playing games in their parents’ basement, people who took a few years off to travel, etc.
But that number hasn’t changed dramatically in the past few years (well, except of course for a sharp rise in 2020 followed by a quick fall in 2021…). It has risen in the past few decades, but there are reasons for that (boomers aging out of the labor force, for example).
There’s not some crazy new secret unemployment crisis.
Ah-ha. So basically people are working, they just aren’t getting paid enough. Is that right?
How do you figure?
I’m referring to the fact that so many people seem to have trouble just getting by and making a decent living. Wondering what the cause is, I suppose.
What do you mean, is this a thing in the US?
It is a thing, people who aren’t actively looking for work (or working) aren’t factored into unemployment numbers. A stay-at-home parent isn’t considered unemployed, or the unemployment numbers would be closer to 40%.
Basically, the unemployment rate means: what share of people are looking for work, but can’t find any?
This also means that there’s a certain number of people who try to find work, aren’t able to find any, and eventually just give up to (stereotypically) move into their parents’ basement or whatever. I take it that AFaithfulNihilist is implying that the number of those people is rising significantly, but there’s not really any evidence for that.
We also have numbers on discouraged workers. BLS publishes all of those numbers, it’s not like they’re a secret. It just tells you a lot less than the mainline number.