tag:blogger.com,1999:blog-7895164153505105997.post3153348717547542712..comments2024-01-17T00:45:37.075-08:00Comments on Bud Meyers: Since Recession Ended, 11 Million more not in Work ForceBud Meyershttp://www.blogger.com/profile/02065020063363023395noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7895164153505105997.post-29797979490767711562014-12-08T05:33:20.763-08:002014-12-08T05:33:20.763-08:00Thanks...I just want to clarify:
For example: Whe...Thanks...I just want to clarify:<br /><br />For example: When I say the "Class of 2008–09 --> 3,039,015" -- that means the number of graduates, not the number of seniors in that class year, so the percent should be irrelevant. But if only 80% of high schools students are graduating, that means we have many more "missing workers" -- unless they're all in prison.<br /><br />And while you might be retired, but not collecting a Social Security check, the vast number of Americans who DO retire DO collect one. My main point was just to show that over 11 million more people were not in the labor force since June 2009. <br /><br />Thanks for your comment.<br />Bud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-88415297477314172482014-12-07T14:58:46.914-08:002014-12-07T14:58:46.914-08:00ok, bud, a few nits to pick...first, high school g...ok, bud, a few nits to pick...first, high school graduates are not a good proxy for youth entering the labor force; the national high school graduation rate did not surpass 80 percent until 2012; <a href="http://www.theatlantic.com/national/archive/2013/06/high-school-graduation-rate-hits-40-year-peak-in-the-us/276604/" rel="nofollow">it was 74.7 percent for the class of 2010</a>...similarly, those on social security isn't a good proxy for the number retired; ie, i'm "retired" but not on it; a lot of government workers arent on it either because they have separate systems (FERS, CSRS)...then, your total jobs created comes from the survey of employers (aka the establishment survey...all the labor force data comes from the household survey...the two surveys dont cover the same population; the establishment survey just covers those who are payrolls, and says nothing about the unemployed.. the household survey covers the entire population over 16, including the self employed and farm workers...<br /><br />so, while i agree with your premise, that a lot of workers are missing and unaccounted for, i can't say that your method shows that...i'll also admit that i wouldn't know a better way, ether...rjshttps://www.blogger.com/profile/15681812432224138582noreply@blogger.com