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 retired are you part of the labor force? coming from someone that has only seen retirees only work when they want to. and if you're still working for a living you are not retired imo
not trying to be confrontational I genuinely would like to know what people think and why do we accept it
that's what I thought but I was told I was wrong about the unemployment part, but when I brought up work force I was told i was stupid and that I didn't know anything
that may be true to a point but I thought stupidity was an incapability to learn and I haven't yet reached that intersection
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?
Yes, work force participation and unemployment are different concepts. A basic way to think about it is that unemployment is the number of people who are in the work force participation number but do not have jobs.
when they say, "work force participation is 64% but unemployment is hovering right around 5% so things are good"
I don't see it as an honest assessment, don't know why others do, which should surprise no one as our government is as dishonest as dishonest comes
Which do you see as problematic? Work force participation percent at 63% makes sense as baby boomers retire, and unemployment at 4% is historically pretty low.
retirees and disabled people are not part of the work force as retirees are retired and disabled people are disabled
how are they part of the work force when they are not in the work force?
keep getting forms of this ridiculous explanation that make no sense
the numbers don't add up
Right, again, they are two different concepts. Work force participation is the number of people in the work force divided by the entire US population over 16. So people not in the work force are retired, stay at home parents, disabled, those in school.
