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Old 04-08-2017, 01:54 PM
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donquixote99 donquixote99 is offline
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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.
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Last edited by donquixote99; 04-08-2017 at 02:00 PM.
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Old 04-08-2017, 04:13 PM
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JCricket JCricket is offline
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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.
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