- Joined
- Jan 28, 2012
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- 16,386
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- Where I am now
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- Independent
No kidding...every period in history is different.because the direction of unemployment is different and the inflation situation is completely different.
The point is that the Fed for years used a 6-6.5% U-3 as it's guidepost. Well that has long ago come and gone and still no rate hike. Plus, they have stopped quoting the U-3 and have basically admitted that it is a lousy guidepost for determining general unemployment.
And they are right.
that's true for the U-6 as well. If there are no unemployed, then the rate will be zero regardless of how many employed there are. What measure do you propose where ther are no unemployed but the rate is above zero?
Oh come on now.
Under the moronic U-3, you could have one person working and 200 million others desperate for a job - but since there are no jobs, they stopped looking for jobs. In that scenario, you would have an unemployment rate of 0% even though 200 million Americans are DESPERATE for a job.
It's a joke.
I would eliminate the 'discouraged worker' nonsense. If you seriously think it is ANYTHING but a ploy by the government to make the U-3 seem lower 'artificially' - then you are incredibly naive, IMO.
If you are unemployed and want a job and are physically capable of working (I.e. you are not too ill), then you should be counted as unemployed...and what you are doing while waiting for employment (school, stay-at-home parent, whatever) is none of the government's business.
The U-3 could still then be 0% with only one American working...but at least in that scenario, every other American that was capable of working would not want a job.
And I am NOT getting in a silly debate with you over this. Your LOVE for the BLS is incredibly well documented (plus you claim you work/worked there - so you are biased) and clearly your mind is completely closed on the matter.
And I don't waste my time with closed minded people, no offense.
The U-3 is a joke...I know it and so does the Fed.
You don't...that's your problem.
Good day.
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