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Thread: China's economy grew 6.6% in 2018, the lowest pace in 28 years

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    Actually US employment stats have been extremely misleading since the last Bush administration .....I remember when Aus PM John Howard adopted Bush's system for measuring unemployment - Australia's unemployment figures went down a coupla % overnight . A person who works 1 day a week is counted as employed.....WTF ! very rubbery figures to fool people that employment is in a reasonable state.

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    Quote Originally Posted by PJL View Post
    Actually US employment stats have been extremely misleading since the last Bush administration .....I remember when Aus PM John Howard adopted Bush's system for measuring unemployment - Australia's unemployment figures went down a coupla % overnight . A person who works 1 day a week is counted as employed.....WTF ! very rubbery figures to fool people that employment is in a reasonable state.
    The US has been using the U-3 unemployment figures for decades. But they publish all figures, U-1 through U-6.

    Table A-15. Alternative measures of labor underutilization

    Measure Not seasonally adjusted Seasonally adjusted
    Dec.
    2017
    Nov.
    2018
    Dec.
    2018
    Dec.
    2017
    Aug.
    2018
    Sept.
    2018
    Oct.
    2018
    Nov.
    2018
    Dec.
    2018
    U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force 1.4 1.2 1.3 1.5 1.4 1.4 1.4 1.3 1.3
    U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force 2.1 1.6 1.8 2.0 1.8 1.7 1.8 1.7 1.8
    U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate) 3.9 3.5 3.7 4.1 3.8 3.7 3.8 3.7 3.9
    U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers 4.2 3.7 3.9 4.4 4.1 3.9 4.1 4.0 4.1
    U-5 Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force 4.9 4.5 4.6 5.1 4.7 4.6 4.6 4.7 4.8
    U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force 8.0 7.2 7.5 8.1 7.4 7.5 7.5 7.6 7.6
    NOTE: Persons marginally attached to the labor force are those who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the past 12 months. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not currently looking for work. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule. Updated population controls are introduced annually with the release of January data.
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    The last US Census was 9 years ago.

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    Quote Originally Posted by PJL View Post
    The last US Census was 9 years ago.
    The US conducts its census every 10 years. Anyhow, relevance to the topic?
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    Quote Originally Posted by Peter1469 View Post
    China's economy grew 6.6% in 2018, the lowest pace in 28 years

    6.6% is still good, assuming that we can trust their numbers. It does represent a serious slow-down of China's economy. And China has the largest debt bubble in the history of nations. When that pops it will likely trigger a global recession.
    Perhaps, Chinese economy is reaching some limit imposed by modern technology. Fast economic growth with current technology is impossible.

    Hopefully a new Technological Revolution will bring another era of rapid growth.

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