U.S. changes how it measures long-term unemployment

hippie · Dec 29, 2010

http://www.usatoday.com/news/nation/2010-12-28-1Ajobless28_ST_N.htm

peilthetraveler · Dec 29, 2010

Wow...so next time we see unemployment numbers its going to look really really bad. Might see a report of unemployment being 17%. That should help tank the markets.

Wallace · Dec 29, 2010

thanks hippie, good find

here's a great chart of the U-6 rate - topped or going up again ?
http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=1994&toYear=2010

BLS's 'Alternative measures of labor underutilization'
http://www.bls.gov/news.release/empsit.t15.htm

hippie · Dec 30, 2010

Quote from peilthetraveler:

Wow...so next time we see unemployment numbers its going to look really really bad. Might see a report of unemployment being 17%. That should help tank the markets.

Not quite, many of those who were unemployed for over 99 weeks are already too discourage to be actively looking for work. If not actively looking, they won't be counted. It doesn't matter if they extend the upper limit to 5 or even 10 years.

hippie · Dec 30, 2010

Quote from Wallace:

thanks hippie, good find

here's a great chart of the U-6 rate - topped or going up again ?
http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=1994&toYear=2010

BLS's 'Alternative measures of labor underutilization'
http://www.bls.gov/news.release/empsit.t15.htm

Thanks for the links, Wallace. The U6 is over 20% here is in South Cal. U6 is now higher than 2008 or 2009.

S2007S · Dec 30, 2010

Quote from peilthetraveler:

Wow...so next time we see unemployment numbers its going to look really really bad. Might see a report of unemployment being 17%. That should help tank the markets.

nah, it will mean more QE3 and QE4!!!!!!!!

Its all good, there is absolutely nothing to worry about with Bubble ben bernanke making these fine decisions.

dandxg · Dec 30, 2010

Quote from Wallace:

thanks hippie, good find

here's a great chart of the U-6 rate - topped or going up again ?
http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=1994&toYear=2010

BLS's 'Alternative measures of labor underutilization'
http://www.bls.gov/news.release/empsit.t15.htm

Have you used Portal 7 before, reliable data? If so that's exactly what I was looking for.

Wallace · Dec 30, 2010

dandxg, no but the chart's accurate, based on the BLS's data

some more charts including US 'Mean Duration of Unemployment'
http://en.wikipedia.org/wiki/Unemployment

dumb_mother · Jan 7, 2011

anyone know what this change showed?