So you think somebody who has a part-time job but who would prefer a full-time job is really unemployed? Should they be able to file for unemployment as well? U6 is generally thought of as a measure of labor underutilization rather than unemployment.
300K new jobs in an already full employment economy (full employment is generally considered anything in which U3 is under 4%, as that just accounts for a healthy economy shifting labor around in a manner to put it in the most productive place), with accompanying increases in wages, and positive revisions to past reports would count as what then?
Low unemployment, highest number of workers working full time, highest participation rate in decades for 25-54... seems pretty solid. I mean you really have to nitpick to find a data issue in employment. Its ok to acknowledge reality.
The true unemployment rate has been discussed here off and on for over 15 years.. I guess you guess missed all of those conversations of the past. The unemployment numbers are inaccurate... have been for a while.
Look up what marginally attached means. Also part time I guess you never understood what you read. Financial illiteracy is a terrible thing. SAD!
For those following along at home, you can find the data at Unemployment Rate | FRED | St. Louis Fed U6 was at 11.2% when Biden took office in January of 2021. When talking about full employment at U3 of 4-4.5%, U6 will be around 8-8.5%. The super low unemployment rate we have right now isn't super ideal, but is better than a high unemployment rate.
You mean during the pandemic? Yeah, it could have been much worse, and it did get much worse, when Biden closed down the nation for business with his covid-19 MANDATES. How many people LOST THEIR JOBS becasue they did NOT want to take that experimental clot shot? That's the statistic that everyone should remember.
And it was at 11.3% when Biden took over. Great improvement! The historical Low of the U-6 is around 6.8% so Biden is doing great! Edit ... actually, I take that back, the Historical low is 6.5%, and it was set by ... you guessed it ... Joe Biden. Another record set by Biden!
Covid happened under Trump. Biden didnt shut anything down. He reopened them. Biden fired no one for vaccines. Hundreds of soldiers who received dozens of vaccinations that refused 1 more were ushered out as they should be... What are you talking about?
Shifting the goalposts now? Okay, more data, here is a link about new unemployment claims, a statistic for how many people lost their jobs each week- Initial Claims Pandemic unemployment claims were sky high from March-August of 2020. Unemployment claims leveled off around 800-900k per week from August of 2020 through February of 2021. When Biden took office there were about 800k new claims per week. The last week of March 2024, there were 221k new claims. The last time we were over 300k was October of 2021. Prior to Biden shutting everything down for the pandemic in March of 2020, there was an average of 226k claims per week during the Trump administration. The US has been averaging less than that since August of 2021.
Pretty sure they've actually convinced themselves of some of these things by now. But everybody knows it was President Fauci who closed down the nation. The only thing that Trump guy did was speed up development of that super harmful vaccine and tell people to shoot bleach up their a$$es.
I don't think you know what that means or you wouldn't have shifted the goal posts in your reply... before mine... Mine was in response to your shifting of the goal posts.
The post where I responded to someone bringing up U6, with information about U6? I'll have to admit, I'm a little curious about how that could be construed to be shifting the goalposts. In what ways do you see a response to a post about U6 unemployment with data about U6 unemployment as shifting the goalposts?
Things are so good that somehow small business optimism is at an eleven year low... https://www.cnbc.com/2024/04/09/sma...year-low-as-inflation-fears-wont-go-away.html Small business confidence hit its lowest level in more than 11 years for March as proprietors worried that inflation is still very much a problem. At a time when other data points show inflation receding, the National Federation of Independent Business reported Tuesday that its survey showed a reading of 88.5, down nearly a point from February and the lowest since December 2012. A quarter of all respondents reported that rising costs were the biggest problem. “Small business optimism has reached the lowest level since 2012 as owners continue to manage numerous economic headwinds,” NFIB Chief Economist Bill Dunkelberg said. “Inflation has once again been reported as the top business problem on Main Street and the labor market has only eased slightly.”
