Comment · Wed, November 6, 2013
/u/thesprunk explains how normal US unemployment figures are bogus, and that the reality is bleaker.
What they were answering
thatsumoguy07 · 1 points
U3 covers total population vs how many are unemployed. And as I (meant) to say, we have not recovered all of it, and have fully recovered, but we have recovered most loses. And yes, some people are forced to into part time, who rather be full time. But the fact is U3 has went from ~4.5-5.0% to 7.6%, U6 went from 10.1% to 13.7, so we only have a 1% difference between U3 growth and U6 growth. Meaning most of the jobs we have gain back are not part time jobs.
u/MisterYouAreSoDumb
U3 dose not factor in total population to the employment ratio. So it will not give us an accurate indication of the situation I am speaking to. I am not really concerned about jobs recovered. I am concerned about the overall health of the economy from a worker perspective. We may have recovered a lot of jobs lost. However, the economy has grown in the time period we are talking about, yet the job market has not. If this was 2008, then it might be a different story. It's 2013, and the total growth of the last 5 years has not translated to an appropriate percentage of jobs for the workforce.