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PROVING the error of Progressive thinking. I posted this days ago. It really got under the skin of some Progressives. Facts are...FACTS.
Current U-6 Unemployment Rate is 9.6% (BLS) or 14.1% (Gallup)
Current U-6 Unemployment Rate:
U3 Unemployment vs U6 For September 2015 the official U-6 unemployment rate fell from 10.3% in August to 9.6% in September. However, the independently produced Gallup equivalent called the “Underemployment Rate” only fell from 14.2% in August to 14.1% in September.
The current differential between Gallup and BLS on supposedly the same data is 4.5%! or roughly a 53% margin of error!
What is U-6?
U-6 is a broader measure of unemployment including discouraged workers and many consider U-6 to be”the Real Unemployment Rate” See: What is U-6 Unemployment? for the full definition of U-6 Unemployment.
As you can see from the chart below, the unadjusted U-6 unemployment rate was 15.2% in December 2011 and 14.4% in December 2012. By July it bounced up again to 15.2% and in October the U-6 miraculously fell back to 13.9% just in time for the election. But by January 2013 it was back to 15.4%. By January 2014 it was at 13.5% and by October 2014 it was down to the 11% range. In January 2015 it bounced back up to 12% but promptly returned to 10.4% by April.
Currently Gallup estimates it to be more like 14.1% as of September 2015.
Comparing U3 to U6
If you look at the chart below carefully you will see that the current (Unadjusted) U-3 unemployment rate is 4.9% which is still above the U-3 rate from 2006-2008.
You may also notice that when unemployment rises the gap between U-3 and U-6 also rises. For instance, in October 2000, unemployment was at the lowest levels on this chart with U-3 at 3.6% and U-6 was at 6.3%. For a difference of only 2.7%. But at the peak of unemployment in January 2010 U-3 was at 10.6% but U-6 shot all the way up to 18% for a difference of 7.4%.
http://unemploymentdata.com/current-u6-unemployment-rate/
Current U-6 Unemployment Rate is 9.6% (BLS) or 14.1% (Gallup)
Current U-6 Unemployment Rate:
U3 Unemployment vs U6 For September 2015 the official U-6 unemployment rate fell from 10.3% in August to 9.6% in September. However, the independently produced Gallup equivalent called the “Underemployment Rate” only fell from 14.2% in August to 14.1% in September.
The current differential between Gallup and BLS on supposedly the same data is 4.5%! or roughly a 53% margin of error!
What is U-6?
U-6 is a broader measure of unemployment including discouraged workers and many consider U-6 to be”the Real Unemployment Rate” See: What is U-6 Unemployment? for the full definition of U-6 Unemployment.
As you can see from the chart below, the unadjusted U-6 unemployment rate was 15.2% in December 2011 and 14.4% in December 2012. By July it bounced up again to 15.2% and in October the U-6 miraculously fell back to 13.9% just in time for the election. But by January 2013 it was back to 15.4%. By January 2014 it was at 13.5% and by October 2014 it was down to the 11% range. In January 2015 it bounced back up to 12% but promptly returned to 10.4% by April.
Currently Gallup estimates it to be more like 14.1% as of September 2015.
Comparing U3 to U6
If you look at the chart below carefully you will see that the current (Unadjusted) U-3 unemployment rate is 4.9% which is still above the U-3 rate from 2006-2008.
You may also notice that when unemployment rises the gap between U-3 and U-6 also rises. For instance, in October 2000, unemployment was at the lowest levels on this chart with U-3 at 3.6% and U-6 was at 6.3%. For a difference of only 2.7%. But at the peak of unemployment in January 2010 U-3 was at 10.6% but U-6 shot all the way up to 18% for a difference of 7.4%.
http://unemploymentdata.com/current-u6-unemployment-rate/
Last edited by Markle on 11/1/2015, 10:05 am; edited 5 times in total
