Posted on Jul 6, 2018
US added 213,000 jobs in June; unemployment rose to 4 pct.
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Question... can the contradiction in numbers between unemployment & job creation be attributed to students on summer break?
Just sayin’
Just sayin’
US added 213,000 jobs in June; unemployment rose to 4 pct.
Posted from apnews.com
Jobs
Economy
Posted 6 y ago
Responses: 3
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Quora
There are two components to unemployment: structural unemployment and cyclical unemployment. Structural unemployment describes the "baseline" rate even in a growth economy. In a market economy, it exists because labor conditions change, industry demand patterns change, etc and therefore there will be someone who is on the transition. [1] Historically, structural unemployment has been about 3-6% in the United States (much higher in Europe), although recently (I argue elsewhere) that structural unemployment itself has risen. When unemployment rate is in this range, it is considered full employment. That means, full employment does not mean everyone in the labor force is employed.
There are two components to unemployment: structural unemployment and cyclical unemployment. Structural unemployment describes the "baseline" rate even in a growth economy. In a market economy, it exists because labor conditions change, industry demand patterns change, etc and therefore there will be someone who is on the transition. [1] Historically, structural unemployment has been about 3-6% in the United States (much higher in Europe), although recently (I argue elsewhere) that structural unemployment itself has risen. When unemployment rate is in this range, it is considered full employment. That means, full employment does not mean everyone in the labor force is employed.
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Sgt Wayne Wood
It depends on how tge administration spins the numbers as well (::cough::obama::cough::)
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Those who are not employed and are not looking for a job, are not part of the unemployment rate.
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MAJ Ken Landgren
The number of people in the labor force. This measure is the sum of the employed and the unemployed. In other words, the labor force level is the number of people who are either working or actively seeking work.
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Every one of the numbers the US government puts out are based on estimates. Professor Thomas Sowell pointed this out quite eloquently in a speech. Www.libertypen.com
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