Skip to comments.Need Some FReeper Help RE: Unemployment Reporting U3 & U6
Posted on 09/07/2012 11:52:27 PM PDT by Mad Dawgg
When did the BLS start reporting Unemployment using the U3 Tables? Was there a time when Unemployment was reported as just people out of work? (More like the U6 tables) I need to know for some stuff I am writing but I can't seem to find anything credible when I Google such.
Thanks in advance for your consideration.
They changed early 90’s. Look it was all a gambit to keep the headline figure down. Period. helps with elections.
It was right after the Welfare Reform Act passed. About the same time that they started reporting “Core Inflation” not actual inflation.
It was in reaction to the misery index.
The true unemployment is closer to U6 than U3.
Follow on question: Unemployment was reported at 24-25% in Greece recently. How does the US compare to Greece in comparable terms?
every nation probably uses different metrics to some degree. One would have to look that up. Don’t forget the fudge factor too in a nation like China where numbers are somewhat controlled.
I consider John Williams’ analysis at Shadowstats very credible. Bill Gross does too. Others find it preposterous.
I also like Shadowstats. The unemployment calculations have been changed repeatedly over the years. Prior to Reagan, military personnel were not counted as employed. He changed that, resulting in a lower unemployment rate. Clinton had BLS stop surveying inner-city areas in order to reduce the unemployment rate during his administration. We won’t know what shenanigans Obama is doing with the calculations until he’s out of office.
I’d like to see U3 under 8 on election day and obama not get re-elected. that should put the rump swab media in quite a tizzy. :-)
U6 will be used after a Romney win.
And the homeless stats will become front page again.
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