Skip to main content

View Diary: Government reports increase of 114,000 jobs, official jobless rate drops to 7.8%, U6 is 14.7% (207 comments)

Comment Preferences

  •  I believe 2.5 of those are counted. (0+ / 0-)
    Unemployed who start their own business.
    (1) Are you SURE that's not counted? (2) Why would there be such a sudden, drastic increase in unemployed starting their own businesses?
    Part-time who become full-time.
    Part-timers are counted as employed in U3 (the "headline" 7.8%). Part-timers looking for full-time are counted as unemployed in U6, which is why it's higher.
    Retirees - we are at the beginning of the mass baby-boomer retirement.
    That indeed should account for shrinkage of the labor force--or rather, a slowing in the rate of growth of the labor force. But I doubt that's the whole missing 296,000. (Or is it? I'd genuinely like to know.) As I noted in my comment above, the figure of 88,000 per month growth in the labor force is the lowest I've seen (Robert Reich uses 125,000; I've seen other figures up to 150,000). So accounting for retiring Boomers doesn't change the fact that we're on course for job recovery by 2026.

    "The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals." - Barack Obama

    by HeyMikey on Fri Oct 05, 2012 at 08:42:38 AM PDT

    [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site