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Thread: When we are told the unemployment is 4.6% I wonder what that really means.

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    goodpen's Avatar Senior Member
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    When we are told the unemployment is 4.6% I wonder what that really means.


    We had some 4 million plus (4.4 million) quit jobs in September and how many of those are not even looking for a job???

    Everything is so messed up with the Biden crew, not sure if we can believe anything.

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    "The unemployment rate “has a very specific meaning,” said Ernie Tedeschi, a policy economist at Evercore ISI. It only takes into account people who are out of work, available for work, and have actively looked for work in the last four weeks, as well as those on temporary layoff. ould have added this regarding unemployment numbers etc;

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    The Booman's Avatar Senior Member
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    It means look at the U6.






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    carolina73 (11-29-2021)

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    Quote Originally Posted by goodpen View Post

    We had some 4 million plus (4.4 million) quit jobs in September and how many of those are not even looking for a job???

    Everything is so messed up with the Biden crew, not sure if we can believe anything.
    Between 32M and 44M people are now self-employed, either full or part-time. The problem is that the studies use different methodologies so, it's difficult to determine the precise number. https://www.forbes.com/sites/elainep...h=522fe0612d21

    So, the question may well be, how many who are not looking for a job are actually now self-employed?
    "The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problems.”
    Mahatma Gandhi

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    Quote Originally Posted by goodpen View Post

    We had some 4 million plus (4.4 million) quit jobs in September and how many of those are not even looking for a job???

    Everything is so messed up with the Biden crew, not sure if we can believe anything.
    Hi, goodpen!

    This little tutorial should answer your question. The value most commonly used is U-2.

    Regards, stay safe 'n well.
    "And gladly wolde he lerne and gladly teche." Chaucer, the Canterbury Tales.

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    Quote Originally Posted by Dr. Who View Post
    Between 32M and 44M people are now self-employed, either full or part-time. The problem is that the studies use different methodologies so, it's difficult to determine the precise number. https://www.forbes.com/sites/elainep...h=522fe0612d21

    So, the question may well be, how many who are not looking for a job are actually now self-employed?
    That was 2019 pre pandemic.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Quote Originally Posted by MMC View Post
    That was 2019 pre pandemic.
    True, but that may have actually increased some of the self-employed, particularly among those whose employment permanently ceased as a result of the pandemic.
    "The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problems.”
    Mahatma Gandhi

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    Quote Originally Posted by Dr. Who View Post
    True, but that may have actually increased some of the self-employed, particularly among those whose employment permanently ceased as a result of the pandemic.
    Then there are Independent Contractors. Which not all of them are self owned businesses.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Quote Originally Posted by The Booman View Post
    It means look at the U6.
    I usually just look at the raw "employment percentage" to catch the reality and avoid the governments seasonal adjustments.
    Let's go Brandon !!!

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    Quote Originally Posted by MMC View Post
    Then there are Independent Contractors. Which not all of them are self owned businesses.
    True. I expect that the numbers are more accurate at tax time, since that's when all the different forms of 'employment' are categorized by those reporting, but for the rest of the year, it may be a moving target.
    "The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problems.”
    Mahatma Gandhi

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