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The Water Cooler
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How many times did this happen under Obama leadership?
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<blockquote data-quote="TerryMiller" data-source="post: 3191950" data-attributes="member: 7900"><p>Also, there are reports that Snopes is also a liberal organization. Although, Snopes was not cited as evidence in this thread, it would pay for one to know that they are a biased site.</p><p></p><p>In addition, the "unemployment rate" reported on, especially by the media is not the true measure of unemployment. There are 6 classifications for unemployment, labeled U1 through U6, and they report on the U3 classification. (See below.) That classification leaves out those past the stage of drawing unemployment but who are still unable to find work or have been discouraged to the point of quitting the job searches.</p><p></p><p>"The Bureau of Labor Statistics also calculates six alternate measures of unemployment, U1 through U6, that measure different aspects of unemployment:<a href="https://en.wikipedia.org/wiki/Unemployment#cite_note-46" target="_blank">[46]</a></p><p></p><ul> <li data-xf-list-type="ul">U1: Percentage of labor force unemployed 15 weeks or longer.</li> <li data-xf-list-type="ul">U2: Percentage of labor force who lost jobs or completed temporary work.</li> <li data-xf-list-type="ul">U3: Official <strong>unemployment rate</strong> per the <a href="https://en.wikipedia.org/wiki/International_Labour_Organization" target="_blank">ILO</a> definition occurs when people are without jobs and they have actively looked for <a href="https://en.wikipedia.org/wiki/Wage_labor" target="_blank">work</a> within the past four weeks.</li> <li data-xf-list-type="ul">U4: U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.</li> <li data-xf-list-type="ul">U5: U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently.</li> <li data-xf-list-type="ul">U6: U5 + Part-time workers who want to work full-time, but cannot due to economic reasons (underemployment).</li> </ul><p><em>Note: "Marginally attached workers" are added to the total labour force for unemployment rate calculation for U4, U5, and U6.</em> The <a href="https://en.wikipedia.org/wiki/Current_Population_Survey#1994_revisions" target="_blank">BLS revised the CPS in 1994</a> and among the changes the measure representing the official unemployment rate was renamed U3 instead of U5. In 2013, Representative <a href="https://en.wikipedia.org/wiki/Duncan_D._Hunter" target="_blank">Hunter</a> proposed that the Bureau of Labor Statistics use the U5 rate instead of the current U3 rate.<a href="https://en.wikipedia.org/wiki/Unemployment#cite_note-50" target="_blank">"</a></p></blockquote><p></p>
[QUOTE="TerryMiller, post: 3191950, member: 7900"] Also, there are reports that Snopes is also a liberal organization. Although, Snopes was not cited as evidence in this thread, it would pay for one to know that they are a biased site. In addition, the "unemployment rate" reported on, especially by the media is not the true measure of unemployment. There are 6 classifications for unemployment, labeled U1 through U6, and they report on the U3 classification. (See below.) That classification leaves out those past the stage of drawing unemployment but who are still unable to find work or have been discouraged to the point of quitting the job searches. "The Bureau of Labor Statistics also calculates six alternate measures of unemployment, U1 through U6, that measure different aspects of unemployment:[URL='https://en.wikipedia.org/wiki/Unemployment#cite_note-46'][46][/URL] [LIST] [*]U1: Percentage of labor force unemployed 15 weeks or longer. [*]U2: Percentage of labor force who lost jobs or completed temporary work. [*]U3: Official [B]unemployment rate[/B] per the [URL='https://en.wikipedia.org/wiki/International_Labour_Organization']ILO[/URL] definition occurs when people are without jobs and they have actively looked for [URL='https://en.wikipedia.org/wiki/Wage_labor']work[/URL] within the past four weeks. [*]U4: U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them. [*]U5: U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently. [*]U6: U5 + Part-time workers who want to work full-time, but cannot due to economic reasons (underemployment). [/LIST] [I]Note: "Marginally attached workers" are added to the total labour force for unemployment rate calculation for U4, U5, and U6.[/I] The [URL='https://en.wikipedia.org/wiki/Current_Population_Survey#1994_revisions']BLS revised the CPS in 1994[/URL] and among the changes the measure representing the official unemployment rate was renamed U3 instead of U5. In 2013, Representative [URL='https://en.wikipedia.org/wiki/Duncan_D._Hunter']Hunter[/URL] proposed that the Bureau of Labor Statistics use the U5 rate instead of the current U3 rate.[URL='https://en.wikipedia.org/wiki/Unemployment#cite_note-50']"[/URL] [/QUOTE]
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