Hey guys I have started a channel in order to explain economics, buisiness management, accounting and many other disciplines to you. I try to make my explanations as clear as possible, and hopefully they will help you understand eco better. I can also send you additional workheets, diagrams and charts by e-mail, and help you by anwsering any questions you have. subscribe! Thank you x
C SPAN "Black Republican Forum" Session 2 (begin at 11:30) Allen West stated part of Amnesty of 1986 was to secure our borders and enforcement our laws, but haven't happened. (We're still talking about new amnesty like DREAM Act.) We can't allow local cities to make sanctuary cities policies, because they will bring our inner city turf wars to epic proportions by bringing in the drug cartel and Columbian gangs. (Mexican Gangs don't recognize US borders established Treaty of Guadalupe)
In November 2010, the unemployment rate was 9.8% with 15.1 million unemployed. (15.1 million/9.8%) = 154 million are able to work in the workforce. 11,941,812 (or 11.9 million) skilled jobs provided to illegal immigrants. GOOGLE “illegal immigration counters”, the 15.1 million unemployed could take the 11.9 million available jobs. The unemployment rate could be reduced to 2.1% {{15.1-11.9)/154}
Great explanation! So why is the unemployment rate calculated with the four week limit? If you looked for a job at one point, and remain without one, it just seems logical that you'd be unemployed. Anyways, is there another statistic such as an unemployed per labor force?
i was directed to your channel for help but judging by the traffic on here i doubt you will answer me quickly if ever. But i am really interested in business and i am currently majoring in it, but every time i tell someone i am they laugh or say "come on your smarter than that", what should i say to all the negative people out there?
in my opinion, this is not simply nonintuitive but actually counterintuitive. the plain meaning of the word "unemployed" has been undermined by a special case of legislation. then it gets injected back into general use without much comment.
it's not enough that people are educated to the redefinition, because the dissonance which the use creates persists. this kind of surface/technical dissonance is rife in american political language.
in my opinion, this is not simply nonintuitive but actually counterintuitive. the plain meaning of the word "unemployed" has been undermined by a special case of legislation. then it gets injected back into general use without much comment.
it's not enough that people are educated to the redefinition, because the dissonance which the use creates persists. this kind of surface/technical dissonance is rife in american political language.
You're right about the counterintuitive nature of the calculation. But, let's imagine a converse situation. Let's say your one person sees a break in the clouds of his discouraged situation... things are looking better so he goes and looks for a job. Now the unemp rate jumps from 0% to 50% which indicates things are worse.
So, if a large enough group feels things are getting better and get back in the pool... they make the unemp rate look worse!
In many states you must show that you are applying for jobs in order to receive unemployment. They could track the number of people this way. However I'm unsure as to the requirements in different states.
...among the unproductive are the handicapped, mentally challenge people, rich kids who don't have to work, housewives, retirees, etc. Not everyone is going to work in any given society. One has to take that into consideration when they are working the numbers.
absolutely. we will develop very precise models for evaluation. after all, we are able to develop algorithms for program trading that are precise to the millisecond.
we do not take the concept of recycling human beings into energy lightly~~~
Your ease in saying give up tells alot about what part of the world you know. Time will tell the other half of what you don't understand the scope of, you're a silly young man. My problem with what you say comes from your tone of thinking your proving that the 10% is real, when the fact is it has not hit you yet. The rate is near 30% and climing, because everyone is discouraged, don't be foolish you're not different than others, check your tone. If you were born poor you would be where now?
Be nice to see some vids on GDP and CPI calculation (including hedonics), how debt has helped increased GDP over the last 30-40 years, but has also outpaced GDP growth.
I know these are broad subjects but I am sure you can break it down to some key points.
I think that if the economy is so bad, more unemployed people will start looking for a job and the unemployment rate will increase. So yes the unemployment rate is a good economic indicator.
Sal, once again, shows his brilliance. Although I think this video could have been summed up in a simple sentence by saying that the definition of unemployment is flawed. However, this video definitely shows that the unemployment rate isn't the most trustworthy statistic to determine the conditions of the economy even though it's almost always mentioned.
how does the labour bureau get these detailed statistics - how would they know that I was looking for jobs but then for the last 5 weeks I have stopped looking for jobs?
Exactly, and there are the permanently unemployed such as the welfare addicted. Another group is peoople on disability, I'm not sure whether they are counted in any particular group.
The "marginall" rate itself is played with. States don't report consistently or report at all. It's usually an estimate at best. Best to look for data from three data sets: Actually Employed, Receiving Social Security, Above age of 16. That takes retiree's, the infirm, etcetera out.
Remember "Marginal" also includes people who are medically prevented from working but aren't covered by Soc.Secure and prisoners of the state. Any number you hear is likely fudged to make things look better.
For an economist every single breathing human is a tax payer...which makes the employed and unemployed calculation much more complicated as many don't even pay their tax....(?)...just think about those immigrant unofficially registered...but part of the labour force
how about everyone earning under teh poverty line. Immigrants unofficially registered are such a small segment of the population they aren't statistically significant. Don't let your bigotry show Yankee.
@khanacademy How is the question phrased? There a world of difference between asking people if they are "actively looking for a job" or if they "would take a job if they found one".
@jwfcp they ask people if they are currently looking for employment and they can tell if they are lying or not by there job history. Those just previously fired are more likely to be looking for a job than those on welfare paycheck because they have many mortgages to pay off and families to feed. So the question would be "Are you currently seeking employment?" i think its for those aged 15 and over
@MegaRandomtroll thats just an assumption, ok alot of assumptions.
Besides, I dont think the critical factor is "are you looking for work?" rather "if you found a job available, would you take it?". Going month after month sending resume's out, not hearing the slightest peep of feedback from anyone is discouraging, why continue doing something with no results as long as the situation remains the same? The key issue is, once the situation changes, are you going to take advantage of it?
what is a homemaker?
8soccer4life8 3 weeks ago
Hey guys I have started a channel in order to explain economics, buisiness management, accounting and many other disciplines to you. I try to make my explanations as clear as possible, and hopefully they will help you understand eco better. I can also send you additional workheets, diagrams and charts by e-mail, and help you by anwsering any questions you have. subscribe! Thank you x
EcoMadeEasy 6 months ago
this was explained so well. thank you.
Hopeestelle 8 months ago
During Thatcher's reign in the UK The Conservatives changed the definition of unemployed 31 times.
Coolguyrob2006 8 months ago
Hey great presentation. Thanks a lot :)
ZeckRichards 10 months ago
C SPAN "Black Republican Forum" Session 2 (begin at 11:30) Allen West stated part of Amnesty of 1986 was to secure our borders and enforcement our laws, but haven't happened. (We're still talking about new amnesty like DREAM Act.) We can't allow local cities to make sanctuary cities policies, because they will bring our inner city turf wars to epic proportions by bringing in the drug cartel and Columbian gangs. (Mexican Gangs don't recognize US borders established Treaty of Guadalupe)
Fashionificationful 11 months ago
In November 2010, the unemployment rate was 9.8% with 15.1 million unemployed. (15.1 million/9.8%) = 154 million are able to work in the workforce. 11,941,812 (or 11.9 million) skilled jobs provided to illegal immigrants. GOOGLE “illegal immigration counters”, the 15.1 million unemployed could take the 11.9 million available jobs. The unemployment rate could be reduced to 2.1% {{15.1-11.9)/154}
.
.
Allen West 2012
Fashionificationful 11 months ago
Great explanation! So why is the unemployment rate calculated with the four week limit? If you looked for a job at one point, and remain without one, it just seems logical that you'd be unemployed. Anyways, is there another statistic such as an unemployed per labor force?
run2home93 1 year ago
i was directed to your channel for help but judging by the traffic on here i doubt you will answer me quickly if ever. But i am really interested in business and i am currently majoring in it, but every time i tell someone i am they laugh or say "come on your smarter than that", what should i say to all the negative people out there?
MegaRandomtroll 1 year ago
I feel like looking at a diagram of the doppler effect.
dalcde 1 year ago
This has been flagged as spam show
in my opinion, this is not simply nonintuitive but actually counterintuitive. the plain meaning of the word "unemployed" has been undermined by a special case of legislation. then it gets injected back into general use without much comment.
it's not enough that people are educated to the redefinition, because the dissonance which the use creates persists. this kind of surface/technical dissonance is rife in american political language.
tateengstrand 1 year ago
in my opinion, this is not simply nonintuitive but actually counterintuitive. the plain meaning of the word "unemployed" has been undermined by a special case of legislation. then it gets injected back into general use without much comment.
it's not enough that people are educated to the redefinition, because the dissonance which the use creates persists. this kind of surface/technical dissonance is rife in american political language.
tateengstrand 1 year ago
Comment removed
stubbornVN 1 year ago
Did Sal changed the program used for drawings? The draws seems mich finer.. XD
SrCesarBrasil 1 year ago
John Williams' Shadow Stats, etc.
warrenlaurde 2 years ago
You're right about the counterintuitive nature of the calculation. But, let's imagine a converse situation. Let's say your one person sees a break in the clouds of his discouraged situation... things are looking better so he goes and looks for a job. Now the unemp rate jumps from 0% to 50% which indicates things are worse.
So, if a large enough group feels things are getting better and get back in the pool... they make the unemp rate look worse!
jasendorf 2 years ago
DID OBAMA ON WRONG TRACK FOR AMERICA CHANGE? REPORT CARDS A+ ???
The underemployment rate is 17.3 percent.!? NEWSWEEK Published Jan 15, 2010
DID AMERICA PAID MOORE MONEY FOR WARS-LET MONEY FOR JOB?
louielamson2000 2 years ago
i suggest you can kind of rasie your voice a little bit when you do these lectures... it's pretty extrordinary though
ChenJunHung 2 years ago
In many states you must show that you are applying for jobs in order to receive unemployment. They could track the number of people this way. However I'm unsure as to the requirements in different states.
cameling88 2 years ago
lol at the smiley face : )
WorldMagnetic24 2 years ago
...among the unproductive are the handicapped, mentally challenge people, rich kids who don't have to work, housewives, retirees, etc. Not everyone is going to work in any given society. One has to take that into consideration when they are working the numbers.
Prophetess7 2 years ago
absolutely. we will develop very precise models for evaluation. after all, we are able to develop algorithms for program trading that are precise to the millisecond.
we do not take the concept of recycling human beings into energy lightly~~~
trinomialtree 2 years ago
When jobs get created, does it generally cause the unemployment rate to increase, due to re-entry of job-seekers?
wildgift2 2 years ago
better learn how to grow food
Jicim 2 years ago
I heard your interview in NPR and saw your Stimulus Package talk on CNN, where I found out about Khan Academy. Keep up the good work! I love it!
mnfchen 2 years ago 7
Then why does your boyfriend deal drugs?
baigandine 2 years ago
Your ease in saying give up tells alot about what part of the world you know. Time will tell the other half of what you don't understand the scope of, you're a silly young man. My problem with what you say comes from your tone of thinking your proving that the 10% is real, when the fact is it has not hit you yet. The rate is near 30% and climing, because everyone is discouraged, don't be foolish you're not different than others, check your tone. If you were born poor you would be where now?
helpatrestfreedotcom 2 years ago
Comment removed
helpatrestfreedotcom 2 years ago
So the QUESTION IS, how many have dropped out of the labor force that are not retired, handicapped etc... in recent months?
MyTrak 2 years ago
@MyTrak or has the number accelerated when compared to the numbers when there was a low unemployment rate...
MyTrak 2 years ago
Be nice to see some vids on GDP and CPI calculation (including hedonics), how debt has helped increased GDP over the last 30-40 years, but has also outpaced GDP growth.
I know these are broad subjects but I am sure you can break it down to some key points.
Y3rMawm 2 years ago
Obama gave me a job...he pays me to let him blow me to hell. It feels great!
azjeff1971 2 years ago
people having no job is a good thing ; )
nuprincenj 2 years ago
here is a good report the latest unemployment numbers, unspun. these vids should be linked
watch?v=W_rHpq4q7b4
imigrantpunk 2 years ago
The rates is only good to tell you if unemployment is going up or down not the actual rate.
virtualwebman 2 years ago
I think that if the economy is so bad, more unemployed people will start looking for a job and the unemployment rate will increase. So yes the unemployment rate is a good economic indicator.
ultort 2 years ago
Sal, once again, shows his brilliance. Although I think this video could have been summed up in a simple sentence by saying that the definition of unemployment is flawed. However, this video definitely shows that the unemployment rate isn't the most trustworthy statistic to determine the conditions of the economy even though it's almost always mentioned.
blingping117 2 years ago 2
U-6 is a much better indicator.
mfatah281 2 years ago
Nice.
So, official numbers are not really accurate.
biozamadotcom 2 years ago
Thanks Khan for showing us how Government always lies to us and absolutely knows it.
furyofbongos 2 years ago
how does the labour bureau get these detailed statistics - how would they know that I was looking for jobs but then for the last 5 weeks I have stopped looking for jobs?
thanks
pjblabla 2 years ago
if you don't file for unemployment... so those who exhaust their unemployment period (ie 9 months) or stop filing are no longer in the bucket
pntrain5 2 years ago
Exactly, and there are the permanently unemployed such as the welfare addicted. Another group is peoople on disability, I'm not sure whether they are counted in any particular group.
Majenius 2 years ago
This was a point which Peter Schiff makes repeatedly about what the actual unemployment level, actually is in the US.
charlessmyth 2 years ago
very informative and timely.. thanks!
aquapurity 2 years ago
Defining an "employment rate" would be an idea.
(Amount of people working)/(Amount of mouths to feed) = employment rate
btypirate 2 years ago
What is the marginally attached worker rate today? Is it being tracked and reported?
OxenHandler 2 years ago
The "marginall" rate itself is played with. States don't report consistently or report at all. It's usually an estimate at best. Best to look for data from three data sets: Actually Employed, Receiving Social Security, Above age of 16. That takes retiree's, the infirm, etcetera out.
Remember "Marginal" also includes people who are medically prevented from working but aren't covered by Soc.Secure and prisoners of the state. Any number you hear is likely fudged to make things look better.
PsychoticusRex 2 years ago
>18% is the latest report with discourage workers...
pntrain5 2 years ago
@pntrain5 Is that >18% of the labor force or of the previously unemployed?
OxenHandler 2 years ago
If thats true then thats 54 million people who are out of work which means that people will become less and less happier.
ponit54 2 years ago
Once again I have to say your videos are greatly appreciated.
pongman 2 years ago 3
Sal, I think the volume comment is correct. This unfortunately may be where we all are heading.
silencedidgood 2 years ago
For an economist every single breathing human is a tax payer...which makes the employed and unemployed calculation much more complicated as many don't even pay their tax....(?)...just think about those immigrant unofficially registered...but part of the labour force
seyoumeye 2 years ago
how about everyone earning under teh poverty line. Immigrants unofficially registered are such a small segment of the population they aren't statistically significant. Don't let your bigotry show Yankee.
PsychoticusRex 2 years ago
The volume is needed to be amplified, I had a hard time listening to the video. :(
TzerMaan 2 years ago
Plus a person can be "underemployed" or at some part-time job barely making ends meet, and be counted as employed.
Thanks for making this, Sal. Statistics are pointless when folks don't know the whole story.
amjPeace 2 years ago
Good stuff. I learned a lot from this. Like you can't trust those statistics! xD
MedicineCowz 2 years ago 2
Actually... You can. We look at the labor force statistics before the unemployed statistics.
TheBatchGuy 2 years ago
In other words, things are worse than we are lead to believe - maybe way worse.
OxenHandler 2 years ago 8
@OxenHandler Bingo!!! Possibly as bad as the Great Depression right now.
PatriotsRepublic 2 years ago
Thanks for this video, more like this would be great (I loved the ones you did on the PPIP). You have a great way of explaining things.
martinw767 2 years ago
it's actually 308.45 million
lupe556 2 years ago
you use your mouse or w/e really accurate =D
Tinnguyen123 2 years ago
how do they know if people are looking for a job?
Alexmula 2 years ago 2
They survey 60,000 people every month and ask them.
khanacademy 2 years ago 2
Is 60k people even remotely representative of the country?
stretchyrubberbands 2 years ago
@stretchyrubberbands 60k is better than the 1k they do for presidential polls during an election.
PatriotsRepublic 2 years ago
@khanacademy How is the question phrased? There a world of difference between asking people if they are "actively looking for a job" or if they "would take a job if they found one".
jwfcp 1 year ago
@jwfcp they ask people if they are currently looking for employment and they can tell if they are lying or not by there job history. Those just previously fired are more likely to be looking for a job than those on welfare paycheck because they have many mortgages to pay off and families to feed. So the question would be "Are you currently seeking employment?" i think its for those aged 15 and over
MegaRandomtroll 1 year ago
@MegaRandomtroll thats just an assumption, ok alot of assumptions.
Besides, I dont think the critical factor is "are you looking for work?" rather "if you found a job available, would you take it?". Going month after month sending resume's out, not hearing the slightest peep of feedback from anyone is discouraging, why continue doing something with no results as long as the situation remains the same? The key issue is, once the situation changes, are you going to take advantage of it?
jwfcp 1 year ago
@jwfcp a lot **
MegaRandomtroll 1 year ago
first
rctriplefresh5 2 years ago