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A Mountain of Unemployment

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A Mountain of Unemployment

Post by Guest on Thu Aug 11, 2011 8:10 am

Sometimes it's useful to look at something in a different way -- maybe you'll shake loose a new idea.

The picture below breaks the unemployment rate down into three flows into joblessness:

Employment to unemployment: lose your job, start looking for a new one;

Out of the labor force to unemployment: remember, you're only counted among the unemployed if you're actively looking for work. So this category counts folks who formally gave up looking but are now trying again, as well as new entrants;

Unemployment to unemployment: not really a flow -- just means you're stuck there.
http://www.huffingtonpost.com/jared-bernstein/post_2234_b_923635.html

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Re: A Mountain of Unemployment

Post by Guest on Thu Aug 11, 2011 12:50 pm

Out of the labor force to unemployment: remember, you're only counted among the unemployed if you're actively looking for work. So this category counts folks who formally gave up looking but are now trying again, as well as new entrants;

This always bothers me...once you exhaust your benefits, there is absolutely no way to tell if someone just mysteriously "gave up looking for work" or not! The reality of it is, they ran out of benefits and are no longer counted. They are most likely still looking for work but there is no work! Mad

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