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Originally Posted by donquixote99
New one on me. I thought they had a sampling of employers they got reports from, and extrapolated from that to the whole economy. Trust these guys to get more complicated about it....
In any case, unemployment rate, again, is supposed to be survey based, like this:
1. Do you have work?
2. If not, are you looking for work?
You add up the 'yeses' from above, then divide that total into the 'yeses' for 2., and that's the unemployment rate. Retired people say 'no' to 2., and so aren't in it.
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Agreed, but if a person retires and then an unemployed person gets that job, is it a new job? No. But it affected the unemployment rate so it affects the monthly job report.
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Instead of a debate, how about a discussion? I want to learn, I don't care about winning.
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