bean29
Senior Associate
Joined: Dec 19, 2010 22:26:57 GMT -5
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Post by bean29 on Oct 9, 2014 6:35:39 GMT -5
DJ, I was speaking to a visitor today who was born around when I was. He said the reason UE rates look so great is most folk have aged off UE benefits and therefore aren't counted in the statistics. He said he has a friend (or brother), can't remember which, who said the true unemployment rate is actually worse today than it was 5 years ago.
What does this mean? I know you have to have so many covered hours in the 4? Prior quarters. Did he mean that, or if you are eligible to collect SS are you ineligible for UE? |
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djAdvocate
Member Emeritus
only posting when the mood strikes me.
Joined: Jun 21, 2011 12:33:54 GMT -5
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Post by djAdvocate on Oct 9, 2014 10:28:52 GMT -5
labor force participation is "lowest since 1978": research.stlouisfed.org/fred2/series/CIVPART/of course, it is only 0.1% lower than a year ago, so that is not a very meaningful statement. but what it does call into question is my earlier assumption that the trend had halted. we will have to wait and see. there is something very interesting i just noticed. the WFP rate only fell 0.1% during the great recession. this shows just how detached this stat is from the general economy: a thriving economy can shed participants, and a crumbling one can maintain them. |
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