Wednesday, August 03, 2011

BLS

The Bureau of Labor Statistics posts some interesting data if you're trying to understand our economy. One interesting table is the Employment-Population ratio. (You've got to dig for this stuff.) I learn today from digging around that the current Employment-Population Ratio for June 2011 is 58.5%. In effect, not quite 6-in-10 American adults worked at a job in June 2011. That's the lowest percentage we've seen since 1981, coming out of the Carter presidency.

Yet, we're told that the unemployment rate is about 9%.

4 comments:

Gerry N. said...

There are Lies, Damned Lies, and Statistics.

It is also a known fact that 97% of all Gov't. Statistics are 84.7% fabrication.

cassierina said...

Employment/Population ratio includes everybody (kids, elderly, disabled.) Unemployment rate includes only those in the workforce that are looking for a job. Apples & Oranges....

Pawpaw said...

No, casserina, the Employment/Population ratio includes everyone age 16 to 65, not in the military and not disabled. Kids don't count, soldiers don't count, the disabled don't count.

The employment rate includes those who are drawing unemployment and are looking for work. If you run out of unemployement benefits, you're dropped from those rolls.

cassierina said...

yessir, you're right about that. i think what i was trying to point out was that you can be in the population but not the workforce so those two statistics aren't telling the same lie.