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If we redefine people not looking for work as self-employed, the employment figures would look great. As far as those who are unemployed, I have to stick with the common sense definition, people who are not employed.
The U.S. Bureau of Labor Statistics has defined the basic employment concepts as follows:
- People with jobs are employed.
- People who are jobless, looking for jobs within the last 4 weeks, and available for work are unemployed.
- People who are neither employed nor have looked for a job within the last 4 weeks are not included in the labor force.
Employed persons consist of:
- All people who did any work for pay or profit during the survey reference week.
- All people who did at least 15 hours of unpaid work in a family-owned enterprise operated by someone in their household.
- All people who were temporarily absent from their regular jobs, whether they were paid or not.
Full-time employed persons work 35 hours or more, considering all jobs, while part-time employed persons work less than 35 hours.
Who is counted as unemployed?
- People are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work.
- Workers expecting to be recalled from layoff are counted as unemployed, whether or not they have engaged in a specific job-seeking activity.
- In all other cases, the individual must have been engaged in at least one active job search activity in the 4 weeks preceding the interview and be available for work (except for temporary illness) in order to be counted as unemployed.
Who is not in the labor force?
- Persons not in the labor force are those who are not classified as employed or unemployed during the survey reference week.
- Labor force measures are based on the civilian noninstitutional population 16 years old and over. (Excluded are persons under 16 years of age, all persons confined to institutions such as nursing homes and prisons, and persons on active duty in the Armed Forces.)
- The labor force is made up of the employed and those defined as unemployed. Expressed as a formula, the labor force equals employed plus unemployed persons.
- The remainder (those who have no job and have not looked for one in the last 4 weeks) are counted as "not in the labor force." Many who are not in the labor force are going to school or are retired. Family responsibilities keep some others out of the labor force.
- "Marginally attached" workers are those not in the labor force because they have not searched for a job in the prior 4 weeks. However, they have searched in the prior 12 months and are both available for work and want to do so. Most marginally attached workers are not searching due to being discouraged over job prospects or due to being in school.
The Bureau of Labor Statistics also calculates six alternate measures of unemployment, U1 through U6, that measure different aspects of unemployment:
- U1: Percentage of labor force unemployed 15 weeks or longer.
- U2: Percentage of labor force who lost jobs or completed temporary work.
- U3: Official unemployment rate per the ILO definition occurs when people are without jobs and they have actively looked for work within the past four weeks.
- U4: U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
- U5: U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently.
- U6: U5 + Part-time workers who want to work full-time, but cannot due to economic reasons (underemployment).
Unemployment is low because everyone has two jobs.
originally posted by: MichiganSwampBuck
a reply to: rnaa
I see your point, but do you see mine? You seem to defend a system that obfuscates and spins the truth to make things appear to be better than they actually are.
Those examples you gave of certain types of people who aren't looking for a job is valid enough, but only those people looking for work who have applied for unemployment are counted as unemployed. Is there a definition for people who are not employed, looking for work or not, making any money how they can and not receiving unemployment benefits? What are they called? Nobody? Let's call them the unenjoyed.
originally posted by:
Actually only those who get unemployment ebneifits are counted as unemployed. Once the benefits run out they are considered out of the work force.
originally posted by: Sillyolme
a reply to: OccamsRazor04
wage growth is not crazy high for the average american... Stop listening to trump he is a liar.
wage growth is stagnant as it has been.
More jobs were expected than were actually added. Dont ignore the real news for the fake # trump pumps out on a daily basis. He is full of it.
Wage growth, long stuck in neutral, has at last found a higher gear.
wages rose at a healthy clip, and people who had not been looking for work returned to the job market