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Tag Archives: U-6

Rep. Vicky Hartzler (r): the talking points must have arrived late

10 Thursday Jul 2014

Posted by Michael Bersin in Uncategorized

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Tags

4th Congressional District, BLS, jobs, missouri, spin, Twitter, U-6, unemployment, Vicky Hartzler

Previously:

Bureau of Labor Statistics – June jobs report (July 3, 2014)

[….]

Representative Vicky Hartzler (r) has yet to take to Twitter to highlight the positive news:

We’re not holding our breath.

[….]

Heh. We’ll, Representative Hartzler (r) finally did comment yesterday via Twitter:

Rep. Vicky Hartzler ‏@RepHartzler

June jobs report sadly showed 49 out of the past 50 months more people DROPPED OUT of job search than found a job. 12% unemployment really. 6:46 AM – 9 Jul 2014

That’s a reference to U-6, a U.S. Bureau of Labor Statistics “alternative measure of labor utilization” which includes “Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers”. U-3, which is the “official unemployment rate”, is currently 6.1%.

Representative Hartzler’s (r) tweet prompted a response:

hungryprof ‏@hungryprof

@RepHartzler The U-6 rate was 17% in 2009, it’s 12% now. 6:58 AM – 9 Jul 2014

Uh, we already knew that. Representative Hartzler (r) probably does, too. The spin manufactured through the republican party hierarchy probably doesn’t allow for acknowledging facts like that.

The U.S. Bureau of Labor Statistics provides easy access to historical data sets. The following graph shows the U-6 rate from January 2001 (when George W. Bush took office as President) through June of 2014. The red line indicates January 2009, when Barack Obama took office as President.

U-6 from January 2001 to present. Historical data from the U.S. Bureau of Labor Statistics.

One might note that the long term trend of U-6 during the Obama Administration is down. One might also note that there was an uptick during the first term of the George W. Bush administration and then a catastrophic rise at the end of the second term as the economy collapsed. The spin manufactured through the republican party hierarchy probably doesn’t allow for acknowledging facts like that.

Representative Hartzler (r) continued, via Twitter:

Rep. Vicky Hartzler ‏@RepHartzler

7 bad numbers in the June #JobsReport [….] 2:31 PM – 9 Jul 2014

This also prompted a reply (from someone else):

Cody Welton ‏@acoupstick 16h

.@RepHartzler Forbes has a bit of a different take: http://www.forbes.com/sites/sa… … 2:54 PM – 9 Jul 2014

Sigh. Regurgitating republican spin isn’t as easy as it used to be.

You’ve just got to love social media.

 

Now what, Claire?

02 Friday Oct 2009

Posted by Michael Bersin in Uncategorized

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Tags

Bureau of labor Statistics, Claire McCaskill, missouri, Paul Krugman, U-6, unemployment

Remember this, from February?:

Just saw Krugman’s comments on reduction in recov act. Question for him. Would no stimulus act be better than one thats 800 B instead of 900

Paul Krugman:

…What happened was a, a lack of conviction, a lack of, you know, if you’re gonna do something like this you’re gonna have a stimulus program you gotta go and do it…This is the kind of situation where you’re trying to build a bridge across an economic chasm. If you build half a bridge it doesn’t work. You have to do the real thing…

This morning, from the Bureau of Labor Statistics:

THE EMPLOYMENT SITUATION — SEPTEMBER 2009

Nonfarm payroll employment continued to decline in September (-263,000), and the unemployment rate (9.8 percent) continued to trend up, the U.S. Bureau of Labor Statistics reported today….

And U-6?:

Table A-12. Alternative measures of labor underutilization (Percent)

U-6 Total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers (Seasonaly adjusted)

Sept 2009 17.0

[emphasis added]

That’s one in six.

Take a look at this comparison of the percentages of job loss from peak employment.

Now what?

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