Political Forums  

Go Back   Political Forums > Economy

We appreciate your help

in keeping this site going.
Reply
 
Thread Tools Display Modes
  #11  
Old 04-08-2017, 01:54 PM
donquixote99's Avatar
donquixote99 donquixote99 is offline
Ready
 
Join Date: Oct 2013
Posts: 19,122
Quote:
Originally Posted by JCricket View Post
Actually, that should be how it is. However, it looks to me like the BLS uses unemployment as compared to previous months, as one of the primary tools for the report. That would be fine, but it does not take into account the boomers retiring. Maybe in another part of their equation the compensate for it. However, so far I have not been able to find anything reference that piece of the puzzle.
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.
__________________
If you Love Liberty, you must Hate Trump!

Last edited by donquixote99; 04-08-2017 at 02:00 PM.
Reply With Quote
  #12  
Old 04-08-2017, 04:13 PM
JCricket's Avatar
JCricket JCricket is offline
Senior Member
 
Join Date: Nov 2009
Location: colorado
Posts: 1,595
Quote:
Originally Posted by donquixote99 View Post
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.
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.
__________________
Instead of a debate, how about a discussion? I want to learn, I don't care about winning.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 07:27 AM.



Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.