Dustin Posted November 16, 2016 Share Posted November 16, 2016 As I always tell everyone.....if the unemployment rate is 5%, then the employment rate is 95%. Numbers don't lie and my glass is half full. That's the way I see it. Quote Link to comment Share on other sites More sharing options...
UtterlyUrban Posted November 16, 2016 Share Posted November 16, 2016 5 hours ago, Dustin said: As I always tell everyone.....if the unemployment rate is 5%, then the employment rate is 95%. Numbers don't lie and my glass is half full. That's the way I see it. All your two sentences show is that you have no idea what the "unemployment rate" actually measures. Quote Link to comment Share on other sites More sharing options...
Dustin Posted November 16, 2016 Share Posted November 16, 2016 Then please explain. Is it something along these lines perhaps? http://www.bls.gov/cps/cps_htgm.htm It's a simple equation really, and my point was that there are many more.......MANY more.......people who are employed than not. A side to that point that many people don't see is that no one is going to lower the unemployment rate by focusing on that rate. If that were going to happen, it would have already. Focus on the people who are working......those sectors.....those industries.......and use all that as a template for success for the people who are not working and want to. If we have to re-train or cross train people to fill those voids, that's a viable option. We come to conclusions like this by focusing on what can be done, not so much on what hasn't been done. Like getting those people back in the workforce. I've been alive for over 50 years,and during that time there has never been a 0% unemployment rate. Ever. And there never will be. Why do you think that is? Quote Link to comment Share on other sites More sharing options...
UtterlyUrban Posted November 17, 2016 Share Posted November 17, 2016 (edited) Is it a simple equation? if I want to work 40 hours per week in my field.... say petroleum engineer.... but I can only find work as a waiter...... am I employed or unemployed according the "simple" formula? if I am a petroleum engineer and want to work 40 hours per week but can only find engineering work for 10 hours per week, and nothing else, am I employed or unemployed according to the "simple" formula? if I am a petroleum engineer who wants to work but have given up even looking for employment because there is nothing in my field and I am discouraged, am I employed or unemployed based on that "simple" formula? (You might want to look this one up). the formula is quite flawed. I believe that your first post tells me that you don't know what it is really saying and your second post does not convince me otherwise. Edited November 17, 2016 by UtterlyUrban Quote Link to comment Share on other sites More sharing options...
samagon Posted January 24, 2017 Share Posted January 24, 2017 (edited) On 11/16/2016 at 6:59 PM, UtterlyUrban said: Is it a simple equation? if I want to work 40 hours per week in my field.... say petroleum engineer.... but I can only find work as a waiter...... am I employed or unemployed according the "simple" formula? if I am a petroleum engineer and want to work 40 hours per week but can only find engineering work for 10 hours per week, and nothing else, am I employed or unemployed according to the "simple" formula? if I am a petroleum engineer who wants to work but have given up even looking for employment because there is nothing in my field and I am discouraged, am I employed or unemployed based on that "simple" formula? (You might want to look this one up). the formula is quite flawed. I believe that your first post tells me that you don't know what it is really saying and your second post does not convince me otherwise. it is simple! A: under-employed, but not unemployed B: under-employed, but not unemployed C: out of the workforce, but not unemployed but we can't use metrics like that because how do you decide when a person is under-employed, or out of the workforce/unemployed? Maybe the life of a petroleum engineer was too taxing, waiting tables is frantic, but you don't have the same level of stress going in, waiting tables, and going home. As a petroleum engineer you had to take work home with you, there were crazy deadlines that kept you up at night. Maybe the petroleum engineer had a kid and appreciate the schedule of working 10 hours a week so they can be at home with their newborn. maybe the petroleum engineer had a kid and rather than working even 10 hours, decides that the workforce isn't for them, so they don't even need to work. you can't quantify this stuff easily at all. a jobs number is far from perfect, but is a simple metric that is easy to use. more to the point of my bumping this thread... Most so called experts have said oil has hit bottom. It's predicted to hold steady for the year at or around $50. The future holds some uncertainty, and President Trump is doing what he promised in that he's shaking the tree really hard. Through the course of this current oil downturn, home prices have continued to rise in Houston, at least in my neighborhood flippers are moving faster than ever. So should the question be now... when will the boom continue? Edited January 24, 2017 by samagon 1 Quote Link to comment Share on other sites More sharing options...
The Pragmatist Posted January 24, 2017 Share Posted January 24, 2017 I met a mechanical engineer while shopping at Dillard's a few weeks ago. According to him, he was recently laid off by HP. He seemed a bit despondent about the fact that he had to resort to working retail sales in the men's department, but he had to obtain an instant source of income due to the fact that his daughter was about to head to medical school and his son was an engineering undergrad at Texas Tech. He said he was hoping to get positive news back from Schlumberger regarding employment. Technically he was employed, but it was a definite case of underemployment. You'd certainly need context for determining each case though. Quote Link to comment Share on other sites More sharing options...
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