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

Burbia's blog post was featured

Disgraced Former CNN Anchor Don Lemon Arrested

No longer an employed journalist, Don Lemon had been seen with far left agitator, Nekima Levy…See More
3 hours ago
Doc Vega's blog post was featured
3 hours ago
Less Prone favorited Doc Vega's blog post The Rabbit Hole
3 hours ago
cheeki kea commented on cheeki kea's photo
23 hours ago
cheeki kea posted a photo
23 hours ago
cheeki kea commented on Doc Vega's blog post The Rabbit Hole
"Good poem for these times. I think it's only going to get worse though as we enter into the…"
yesterday
cheeki kea posted a blog post
yesterday
Doc Vega posted a blog post

Our Crazy Modern World

I'll be your host tonight in our first episode of "Our Crazy Modern World". Join us now!Apparently…See More
Sunday
Burbia commented on cheeki kea's blog post BREAKING: The Epstein Files Illuminate a 20-Year Architecture Behind Pandemics as a Business Model.
"What a bummer. Can't tell thie 'dead' guy to eat shit now."
Saturday
Burbia commented on rlionhearted_3's photo
Thumbnail

2DF36465-A826-443C-A3A8-6638BC1D4FFA

"Venezuela under Chavez had cut ties with the IMF and World Bank. He had suggested that the US had…"
Saturday
Burbia commented on Doc Vega's photo
Thumbnail

G_LrzqtXMAAhT7w

"Derelict of duty should be reason for removal of these judges. That would go against what is in…"
Saturday
Doc Vega posted blog posts
Friday
tjdavis favorited Parrhesia's video
Feb 12
tjdavis favorited UnitedWeStand's video
Feb 12
tjdavis favorited Sandy's video
Feb 12
tjdavis posted a photo
Feb 12
Doc Vega commented on rlionhearted_3's photo
Thumbnail

2DF36465-A826-443C-A3A8-6638BC1D4FFA

"You can't subvert a nation that has already been subverted by Marxists and drug cartles who…"
Feb 11
Doc Vega commented on rlionhearted_3's photo
Thumbnail

2DF36465-A826-443C-A3A8-6638BC1D4FFA

"Venezuela was once a thriving nation until the left and Communism infiltrated the government, and…"
Feb 11
tjdavis posted a photo
Feb 10
tjdavis posted a video

Jacob Collier Improvises With Orchestra (Live in San Francisco)

A few months ago, I had the joy of performing with the world's first Audience Symphony Orchestra in San Francisco, a gathering of fans from all over North Am...
Feb 10

© 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