Originally posted by Littlejoe
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Gallup Poll CEO tells truth about U.S. unemployment
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Originally posted by Littlejoe View Postthey are considered in the Labor Participation Rate that MM was talking about. But not in the unemployment statics. Not the same stat.
http://www.investopedia.com/terms/p/...pationrate.asp
The participation rate refers to the number of people who are either employed or are actively looking for work. The number of people who are no longer actively searching for work would not be included in the participation rate.
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Another difficulty is that unemployment rates are not necessarily related to how easy it is to find a job. There can be times where it is easy for most unemployed people to get a job and there is high turnover and the unemployment rate is high. Likewise there may be times when the unemployment rate is lower, but it is difficult for anyone out of work to find a job. A person looking for a job doesn't really care what the unemployment rate is. They care how easily they can find a job.
Also WWII did not stimulate the economy. WWII pushed the depression even deeper. Private production fell further, living standards fell further. The reason people think WWII was a stimulus is because GDP increased, and that was only because military consumption is counted as GDP. Recovery didn't come until WWII ended.
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Originally posted by Joel View PostAnother difficulty is that unemployment rates are not necessarily related to how easy it is to find a job. There can be times where it is easy for most unemployed people to get a job and there is high turnover and the unemployment rate is high. Likewise there may be times when the unemployment rate is lower, but it is difficult for anyone out of work to find a job. A person looking for a job doesn't really care what the unemployment rate is. They care how easily they can find a job.
How easy it is to find a job is a direct function of how many job openings there are.
Also WWII did not stimulate the economy. WWII pushed the depression even deeper. Private production fell further, living standards fell further. The reason people think WWII was a stimulus is because GDP increased, and that was only because military consumption is counted as GDP. Recovery didn't come until WWII ended.
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Originally posted by Sparko View PostHey! let's raise the minimum wage! That should fix everything!
And there's this beautifully ironic quote from a story about a local bookstore that was forced to close because of a recent minimum wage increase:
It's like those idiots who say, "I didn't vote for Obama to raise my taxes, I voted for him to raise your taxes, so why is he raising my taxes!"Last edited by Mountain Man; 02-05-2015, 07:44 AM.Some may call me foolish, and some may call me odd
But I'd rather be a fool in the eyes of man
Than a fool in the eyes of God
From "Fools Gold" by Petra
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Originally posted by phank View PostNo, this does not happen. When unemployment is high, turnover is so low that employers double the workload without any increase in pay, and people work double the hours because they know they are lucky to have a job. When unemployment is high, turnover is ALWAYS low.
How easy it is to find a job is a direct function of how many job openings there are.
http://mises.ca/posts/articles/measu...ment-take-two/
There you can see a period of time where unemployment was falling and it was also becoming more difficult to find a job.
You can also see that the ease of finding a job began to increase before unemployment reached its peak of about 10%.
But it also stands to reason that high turnover would cause unemployment numbers to be higher than otherwise.
And how many job openings there are is not a direct function of the unemployment rate.
Geesh! Private production decreased because all able bodied men were sent overseas, and all able bodied women were working in defense industries.
Whether or not we consider government industry as distinct from private industry, the fact remains that wars generally preceed economic booms.
But it's not too crazy to expect a rebound after a huge depressant is suddenly lifted.
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Originally posted by phank View PostNo, this does not happen. When unemployment is high, turnover is so low that employers double the workload without any increase in pay, and people work double the hours because they know they are lucky to have a job. When unemployment is high, turnover is ALWAYS low.
How easy it is to find a job is a direct function of how many job openings there are.
Geesh! Private production decreased because all able bodied men were sent overseas, and all able bodied women were working in defense industries.Enter the Church and wash away your sins. For here there is a hospital and not a court of law. Do not be ashamed to enter the Church; be ashamed when you sin, but not when you repent. – St. John Chrysostom
Veritas vos Liberabit<>< Learn Greek <>< Look here for an Orthodox Church in America<><Ancient Faith Radio
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I recommend you do not try too hard and ...research as little as possible. Such weighty things give me a headache. - Shunyadragon, Baha'i apologist
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