Williams calculates his “Official SGS Alternative Unemployment Rate” by adding back in the BLS U6 numbers that include those long-term discouraged workers who have not looked for work in the past year. The only measure BLS reports to the public as the official monthly unemployment rate is the seasonally adjusted U3 number. While the BLS was reporting unemployment in February 2011 was only 8.9 percent, the BLS also was reporting U6 unemployment in February 2011 at 16.7 percent. U6 unemployment includes those marginally attached to the labor force and the “underemployed,” such as those who have accepted part-time jobs when they are really looking for full-time employment. Williams demonstrated that it takes an expert to truly decipher BLS unemployment statistics.įor instance, in a Table A-15, titled “Alternative measures of labor underutilization,” the BLS reports what is known as “U6 unemployment.” The BLS no longer considers as “unemployed” those workers without jobs who had not looked for work in the past year because they felt no jobs were available.
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Separately, Gallup disagreed with the BLS, reporting earlier this week that unemployment had risen to 10 percent in mid-February, as seen in the following chart:īut Williams recreates an SGS (Shadow Government Statistics) alternative unemployment rate reflecting methodology that includes “long-term discouraged workers” that the Bureau of Labor Statistics in 1994 under the Clinton administration redefined away from those considered “unemployed.”
UNEMPLOYMENT RATE FOR PART TIME CALC HOW TO
The government announced today the unemployment rate was reported to have fallen 0.1 percent to 8.9 percent in February, although that is the “seasonally adjusted number.”Īccording to Bureau of Labor Statistics Table A15, the “not seasonally adjusted” unemployment number for February was 9.5 percent.įind solutions for yourself, in “Killing Wealth Freeing Wealth: How to Save America s Economy & Your Own.” unemployment rate may be 22.1 percent for February, not the 8.9 percent reported by the government, according to economist John Williams, author of the “Shadow Government Statistics” website, who has argued for years that the federal government manipulates the reporting of economic data for political purposes. Federal docs contradict 8.9% hyped by media. She has written about business for entrepreneurs and marketing firms since 2011.Yikes! You won’t believe the real jobless numbers. She worked for the State of Tennessee for 19 years, the latter six of which were spent as a supervisor. Stephanie Faris is a novelist and business writer whose work has appeared on numerous small business blogs, including Zappos, GoDaddy, 99Designs, and the Intuit Small Business Blog. “Labor Force Participation: What Has Happened Since the Peak?” Accessed April 8, 2020. “Employment Situation Summary-April 2020.” Accessed June 2, 2020. "How the Government Measures Unemployment." Accessed April 8, 2020. "The Prime-Age Workforce and Labor Market Polarization." Accessed April 8, 2020.
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“Civilian Labor Force Participation Rate.” Accessed April 8, 2020.