The real Unemployment measruement the "U3 and U6" Measruement system

Source


A frequent meme propounded in the economic blogosphere is that U6 unemployment, running near 17% now, is a truer measure (and there are good reasons to believe it is), so that means we have unemployment
already approaching Great Depression levels of 25%. Left out of the
comparison is the fact that U3 and U6 measurements didn't exist during
the 1930s. So, is the 25% unemployment peak for the Great Depression a
fair comparison to U6 unemployment today?

N. Andrews compared historical versions of unemployment statistics with the modern U3 and U6 versions, published as "Historical Unemployment in Relationship to Today" , has an answer. He writes:


For the period of 1900 - 1947 we have two unemployment statistics available, Unemployed Non-Farm employees and Unemployed Civilian Workforce. These two data sets pose a challenge as they were developed
during a period of ever-changing data collection methodologies. The
data in the sets has been adjusted by the sources listed in
Bicentennial Edition: Historical Statistics of the United States,
Colonial Times to 1970 in an attempt to sync the data sets with the
methodology that was put in place as of 1940 and was the basis for
methodologies since. We can compare the two available data sets ... and
we see that the Unemployed Non-Farm employees and Unemployed Civilian
Workforce measures of unemployment appear to be a close analogue of
modern U3 (Unemployed Civilian Workforce) and U6 (Non-Farm employees).


Based on that research, he was able to generate a mathematical formula to calculate U3 and U6 unemployment for the entire period since 1900. He found that at the peak of the Great Depression, U3 was 25.2%. U6 was 37.6%.

Here's the resulting graph:


If Nelson is correct, the notion in the blogosphere that current U6 unemployment levels are close to those of the Great Depression appears
to be false, and indeed, far off the mark. Using Nelson's methodology,
our currrent U3 and U6 unemployment are both very close to the figures
in 1930, which is bad enough. But they are less than half of the
unemployment that existed at the peak of the Great Depression.

Views: 121

Reply to This

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a video

City of Joel - Official Trailer

Now Available on Digital - http://bit.ly/2uxDibn50 miles north of New York City, the town of Monroe is a microcosm for a hyper-partisan and divided nation as...
4 hours ago
Doc Vega favorited omegamann's photo
19 hours ago
Doc Vega commented on Doc Vega's blog post Death Threats for Assisting ICE?
"Less Prone excellent points and I've seen that video too. Very informative! "
19 hours ago
Doc Vega commented on Doc Vega's blog post In the Political Realm They've Gone One Step Too Far!
"Less Prone thanks for your support! "
19 hours ago
Doc Vega commented on Doc Vega's blog post Modern Day Cannibalism?
"Less Prone, you are exactly right! They have been harvesting fetal tissue in vaccines for quite…"
19 hours ago
Doc Vega commented on cheeki kea's photo
Thumbnail

DEAR SANTA...

"Ha ha! Good one! "
19 hours ago
Doc Vega commented on Doc Vega's blog post GROK Acknowledges the Co-existence of Humans and Dinosaurs
"Less Prone, thank you very much for your input/ I always appreciate your insights! "
19 hours ago
Less Prone favorited cheeki kea's photo
Wednesday
Doc Vega's 9 blog posts were featured
Wednesday
Less Prone commented on Doc Vega's blog post Modern Day Cannibalism?
"You may be consuming human tissue unknowingly in vaccines, food or drink. One of the cruellest…"
Wednesday
Less Prone favorited Doc Vega's blog post Modern Day Cannibalism?
Wednesday
Less Prone favorited Doc Vega's blog post Death Threats for Assisting ICE?
Wednesday
Less Prone commented on Doc Vega's blog post Death Threats for Assisting ICE?
"Democrats pretend to be icons of democracy, but what kind of rule do they have in mind? When they…"
Wednesday
Less Prone commented on Doc Vega's blog post GROK Acknowledges the Co-existence of Humans and Dinosaurs
Wednesday
omegamann posted photos
Wednesday
Less Prone favorited Doc Vega's blog post GROK Acknowledges the Co-existence of Humans and Dinosaurs
Wednesday
Less Prone commented on Doc Vega's blog post GROK Acknowledges the Co-existence of Humans and Dinosaurs
"I got some "proof" for you. An early prehistoric cave painting documented on a runestone."
Wednesday
Less Prone favorited Doc Vega's blog post In the Political Realm They've Gone One Step Too Far!
Wednesday
Less Prone commented on Burbia's video
Thumbnail

All In The Family | Mike Meets Archie For The First Time | The Norman Lear Effect

"Television programs have come down a lot in quality since those days. "
Wednesday
Doc Vega posted a blog post

In the Political Realm They've Gone One Step Too Far!

I'm Your Host here on a completely new program. We call it One Step Too Far! Join us now for some…See More
Tuesday

© 2026   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted