Jason Furman, 2022 (singled out only because he was admirably explicit): if unemployment stays low, inflation “will still be about 4% at the end of 2025.” www.hks.harvard.edu/centers/mrcb...
funny that unemployment is low when looking at work force participation numbers
was told not participating in the work force and unemployed are different
if you know please make it make sense
I think it's people applying for unemployment are unemployed, and then anyone working age that is not on unemployment is in the 'not participating in the work force'. Like stay at home moms and people that ran out of unemployment.
If you are looking at BLS definition of unemployment, anyone who is actively looking for a job but does not currently have one is unemployed, regardless if they are on unemployment.
so what's with the other 32% of the work force that is unaccounted when you add work force participation (64%) and unemployment (4%) together? Certainly doesn't equal 100 and I keep getting told that's the way it is. Our government lying to us is the way it is and it's time that stops
seems as if you do not understand the question I am asking so i'll try it a different way
if you are able to work you are in the work force
if work force participation is only 64% and unemployment is only 4% what is the other 32% of the work force doing?
Again, those 36% not in the work force are stay at home partners, retired people, and students for the most part, I’m sure there are other reasons, but historically speaking this is a normal percent.
if the work force is 100% of people that can and want to work, and work force participation is x, and unemployment is y, why do those numbers not add to 100, or very close?
don't want to hear about students whose job it is to learn, or retirees who've left the work force, and homemaker = job
No, work force participation is total number of people who want to work divided by the entire US population over the age of 16.
It is the percent of the total population who chose to be in the work force.
It is not the number of people in the work force who are participating in the work force.
that doesn't make any kind of sense
which makes sense in the west
"here are the numbers that we want you to know because the truth is much worse and we don't like to blatantly show our failures to the people that prop us up so we can fail" - US government and its apologists
I’m sorry it doesn’t make sense to you, but that is the standard definition. The US government isn’t trying to hide or obfuscate anything.
The methods state Work Force Participation Rate is:
(Population in the work force) / (Total US population over 16)
Historically these numbers are also in line with what we’d expect with a stable economy, so I am also not sure what you mean by the truth is worse.
But the methods are published for everyone and everyone has access to the data they can interpret as they’d like.
