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 videos
1 hour ago
tjdavis posted blog posts
yesterday
Doc Vega posted a blog post

Is America on the brink of a Dire Emergency

 You might know if you have remained informed that America has been under asymmetric warfare for…See More
Saturday
tjdavis favorited Burbia's video
Thursday
tjdavis posted videos
Thursday
rlionhearted_3 commented on Sandy's photo
Nov 11
cheeki kea posted a photo
Nov 11
cheeki kea favorited tjdavis's blog post Propaganda,Cognitive Warfare Europes Self Destruction
Nov 11
cheeki kea commented on tjdavis's photo
Thumbnail

Sustenance

"Bacon health to the nation for one and all and stealth for operations elsewhere in the war. Yip a…"
Nov 11
Doc Vega posted a blog post

The Consequence of Loneliness: Another Missing Person Case

Chapter I“Unit 7, Unit 7. Do you read? This is dispatch!”“This is Unit 7, over!” Deputy Patterson…See More
Nov 10
Cora is now a member of 12160 Social Network
Nov 10
tjdavis's 3 blog posts were featured
Nov 10
Doc Vega's 6 blog posts were featured
Nov 10
Sandy posted a photo
Nov 9
Doc Vega posted blog posts
Nov 9
tjdavis posted a video

Devo - Fresh

"Fresh" is from Devo's 2010 album, Something For Everybody. Video producer – Brian Carr/David VotteroVideo director – Gerald Casale & Davy Forcehttps://www.C...
Nov 8
Doc Vega commented on tjdavis's blog post Drones Used In Gaza Surveilling US Cities
"Remember that song by Alan Parsons "Eye in the Sky"?"
Nov 8
Snakedaddy favorited tjdavis's video
Nov 8
Doc Vega posted a blog post
Nov 7
tjdavis posted blog posts
Nov 7

© 2025   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