I was surprised to learn recently that part-time work counts exactly the same as full-time work in calculating the unemployment rate. Iâm a bit of a government-data junkie, and I didnât know that. Any minimum number of hours? I donât think so.
This low unemployment rate is probably not as impressive as it looks. It is highly likely that the gig economy is making the unemployment picture look rosier than It really is.
Lies, damned lies & âŚ
Has it always been counted this way?
My R âfriendsâ used to argue the same thing when Obama was in office. They would go on about the âeffective unemployment rateâ being much higher because of how the feds calculate these numbers. I doubt they will be singing that tune todayâŚbecause that would just be inconvenient.
I donât think so, as I recall numbers on âunder employedâ which I think reflected part-time workers who were seeking full-time work. But I am not sure.
I think so. But the recent increase in temporary employment means the unemployment data is describing a different underlying economy than it was 40 or 50 years ago. âLowest in 50 yearsâ doesnât mean what we think it means.
Thanks. As long as thereâre other data to compare with we can get a more clear picture.
If times are so good how come so many store fronts are closed? Retail is dying everywhere.
You are right. The change happened several Presidents ago so we canât blame Trump, but when you look around you see a lot of people working at dead end jobs for low wages. The $27 per hour average isnât reflective of what is going on. My company has a lot of tech employees who make more than twice that amount. They lift the average. So do booming economies in places like Northern Virginia. In the heartland people still struggle to top $15.00 per hour.
Store fronts are closing because of Amazon. And Wallmart. And EBay.
Where do those people work?
Thanks Obama.
Everything out of this damned administration is a lie.
That is a really good question. Iâd like to see that broke down on a state-by-state,industry-by-industry basis.
I do think unemployment is the lowest I remember. Low paying places walmart and fast food joints where they pay very little, have lost their decent workers and now are employing people that nobody would have hired a few years ago, and for good reasons too.
Paging Isaac NewtonâŚ
This is a sugar high from corporate tax cuts.
Trump knows it can only last so long, .thatâs why he wants more sugar in the form of FED interest rate cuts.
When actually the FED should be raising rates so it has more room to help the economy when gravity takes hold.
Pulled this from the report. Here is where the gains were:
"Professional and business services added 76,000 jobs in April. Within the
industry, employment gains occurred in administrative and support services
(+53,000) and in computer systems design and related services (+14,000). Over
the past 12 months, professional and business services has added 535,000 jobs.
In April, construction employment rose by 33,000, with gains in nonresidential
specialty trade contractors (+22,000) and in heavy and civil engineering
construction (+10,000). Construction has added 256,000 jobs over the past 12
months.
Employment in health care grew by 27,000 in April and 404,000 over the past
12 months. In April, job growth occurred in ambulatory health care services
(+17,000), hospitals (+8,000), and community care facilities for the elderly
(+7,000).
Social assistance added 26,000 jobs over the month, with all of the gain in
individual and family services.
Financial activities employment continued to trend up in April (+12,000). The
industry has added 110,000 jobs over the past 12 months, with almost three-
fourths of the growth in real estate and rental and leasing. "
I was not expecting this after yesterday when the initial unemployment claims spiked up to 230k from an expected 215k.
That was for the week ended 4/27/19
I wonder which representative of Donald Trump and/or the GOP and/or the evangelical cult was installed at the agency that pumps this rubbish out.