Unemployment Rate Primer

Understanding how the headline unemployment rate (U-3) is calculated

Category:

Education

Tags:

• economics
• unemployment
• rate

[Alexmula]

how do they know if people are looking for a job?

[khanacademy]

They survey 60,000 people every month and ask them.

[OxenHandler]

In other words, things are worse than we are lead to believe - maybe way worse.

[mnfchen]

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!

[EcoMadeEasy]

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

[Hopeestelle]

this was explained so well. thank you.

[Coolguyrob2006]

During Thatcher's reign in the UK The Conservatives changed the definition of unemployed 31 times.

[ZeckRichards]

Hey great presentation. Thanks a lot :)

[Fashionificationful]

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]

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}

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Allen West 2012

[run2home93]

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?

[MegaRandomtroll]

@jwfcp a lot **

[jwfcp]

@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?

[MegaRandomtroll]

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?