Try Michigan-related sources. No joke. They probably used us as a model.
Anyone who believes data released by Federal agencies controlled by Obama commissars for for the past seven years is a fool.
U3 is the “seasonally adjusted” BS/crap; U6 (NOT ‘adjusted’) is closer to reality, but add 5% for a better picture. With 94,000,000 unemployed, this is pretty simple.
http://www.bls.gov/news.release/empsit.t15.htm
Same reason for three cards in a Monte game.
It was done under...wait for it......The Clinton Administration... in 1994
when did they come up with so many categories? When they needed to lie even more about the unemployment stats. Because reality ain’t pretty for a politician.
“There are lies, damn lies....and then there are statistics!” - Mark Twain
Here is a link that will get you more information:
https://www.bing.com/search?q=When+did+the+government+begin+separating+unemployment+into+6+categories%2C+U1+through+U6%3F&pc=MOZI&form=MOZTSB
1994 revisionsAs a result of research that started in 1986, a complete overhaul of how the CPS was administered and what type of questions were asked occurred.[12] Prior to 1994, the alternate measures of unemployment had different names because the BLS drastically revised the questions in the CPS and renamed the measures: U3 and U4 were eliminated; the official rate U5 remained the same measure but was renamed U3; U6 and U7 were revised and renamed U5 and U6.
CPS alternate measures of unemployment before 1994:
- U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force
- U-2 Job losers, as a percent of the civilian labor force
- U-3 Unemployed persons aged 25 and older, as a percent of the civilian labor force aged 25 and older (the unemployment rate for persons 25 and older)
- U-4 Unemployed persons seeking full-time jobs, as a percent of the full-time labor force (the unemployment rate for full-time workers)
- U-5 Total unemployed persons, as a percent of the civilian labor force (official unemployment rate)
- U-6 Total persons seeking full-time jobs, plus one-half of persons seeking part-time jobs, plus one-half of persons employed part-time for economic reasons, as a percent of the civilian labor force less one-half of the part-time labor force
- U-7 Total persons seeking full-time jobs, plus one-half of persons seeking part-time jobs, plus one-half of persons employed part-time for economic reasons, plus discouraged workers, as a percent of the civilian labor force plus discouraged workers less one-half of the part-time labor force
CPS alternate measures of unemployment after 1994:
- U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force
- U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force
- U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate)
- U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers
- U-5 Total unemployed, plus discouraged workers, plus all other marginally attached workers, as a percent of the civilian labor force plus all marginally attached workers
- U-6 Total unemployed, plus all marginally attached workers, plus total employed part-time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers
Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work in the recent past. In addition, marginally attached workers have actively sought work in the past 12 months (e.g. they replied to a "wanted" ad) but have not actively sought work in the past 4 weeks.
Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not currently looking for a job (e.g. they believe that no work was available). This group is about 50 percent smaller than the marginally attached group."
Persons employed part-time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule.
Thank you, all! This has all been very helpful, proving, once again that FR is one of the most valuable resources on the internet.
I appreciate your inputs.
From what I can tell 1940.
The history is a convoluted mess and is to be found in the CPS-Current Population Survey which is a survey conducted by the US Census Bureau for the Bureau of Labor Statistics. This Wiki entry might get you started:
https://en.wikipedia.org/wiki/Current_population_survey_(US)
I also came across this blog entry:
https://reasonablyliberal.wordpress.com/2014/09/12/u4-u6-unemployment-rates/
Well, since they cant dazzle us with brilliance,, they will dazzle us with bullsh*t . . .
Not long after it caused unemployment in the first place. Government loves to institutionalize its failures.
These categories were instituted 20 years ago.
The Consumer Price Index also has been revised a dozen different times to mask inflation. I think that started in the 70s.
Clinton had the BLS stop surveying inner city populations. Then he re-included inner cities just before leaving office to make the unemployment numbered look bad under Bush.