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Jim Cramer: The REAL Unemployment Rate Is 18% // SiriusXM

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The news was far from great in January, but adding jobs, any number of them is better than the inverse. On balance this report is a negative one for jobs, however, the hope is that we bottomed in December and began what will hopefully be a renewed jobs recovery in January. The real unemployment rate once underemployed, long-term unemployed, and marginally attached people are accounted for:. There are currently The news generally continues to be great for those who are full-time employed with wages and hours worked continuing to rise well above year-ago levels. This continues to be a jobs economy of the haves and have nots. The Real Unemployment Rate

By Dr. Mike Walden.

The unemployment rate is the most watched economic indicator by the media and the public. The unemployment rate is a very understandable statistic. So, unemployment is linked to other economic measures. But behind the simplicity of the unemployment rate lies many questions and issues. Before I tackle these questions, let me address one misconception.

Each state runs its own unemployment compensation system which pays jobless people a certain amount of money for a limited number of weeks. The amount paid and the number of weeks paid varies by state.

Still, since each state is able to track how many people are filing for unemployment compensation, it is logical to think these are the numbers used in calibrating unemployment rates for the states. Furthermore, it would then just be a matter of aggregating the state numbers to form a national unemployment rate. However, there are problems with The Real Unemployment Rate unemployment compensation numbers. Not every jobless person files for the benefits, and they can still be jobless when the benefits end.

Instead, the unemployment rates for the nation and states are based on a separate survey of individuals conducted monthly by the American Essay government. A total ofindividuals are contacted each month, and the survey is designed to represent the entire labor market.

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These surveys have been implemented by the federal government since the s. The monthly federal job market surveys ask a series of questions, and three of them are important for https://amazonia.fiocruz.br/scdp/essay/mormon-bank-utah/advantages-and-disadvantages-of-traditional-grading-system.php definition of being unemployed. Or what if you are disabled and unable to work, as is a good friend of ours? It may seem odd that the third question is asked. However, The Real Unemployment Rate framers of the unemployment survey decades ago wanted to make sure a jobless person had a strong desire to find work as a condition for being counted as unemployed.

MIKE WALDEN COLUMN: What’s the real unemployment rate?

Usually, Unempooyment counting discouraged workers as unemployed lowers the official jobless rate by several percentage points. The federal government actually calculates an alternative unemployment rate that includes discouraged workers, but it receives little publicity. Yet there are reasons to believe the undercount of the jobless rate has been higher during the pandemic.

Ironically, as more vaccines are given and the economy improves, the official The Real Unemployment Rate rate may rise, rather than drop. This is because greater confidence about the job market and a return to normal life will motivate more jobless individuals to actively look for work. Then, hopefully, you can decide where the economy is really going. Tuesday, February 9, JoCo The Real Unemployment Rate. Mike Walden The unemployment rate is the most watched economic indicator by the media and the public. Most Popular This Week. February 9, ]