The Administration keeps touting the under 10% employment figures. When it dips a fraction of a percent there is much excitement about economic recovery. Private research groups have placed the figures at 18% to 25%. The government statistics are based on application for unemployment benefits or registry with job assistance programs. The private surveys are based on polling.
Not included in the government unemployment data but included in polling:
People whose unemployment benefits have been exhausted. These individuals would only be counted by government if they signed up in job assistance program. A person is dropped if they do not renew in a timely matter (depending on program from one week to a quarter). Most people fail to renew after looking for a year.
People taking a job below ability. For instance, a College graduate working at a fast food joint. The government classifies them as under employed. They are in fact seeking a job commensurate with their skills. Most have tuition loans which become due upon graduation.
People who took buyouts and are not eligible for unemployment benefits. This would also include people who enter a retraining program.
People working a part time job, even if working less than 20 hours a week. The threshold varies from 1 hour to 20 hours a week .
Planned layoffs, sabbaticals, and injury recovery are not considered unemployed by the government. These are not considered because the individual is compensated by paid leave benefits of their job.
The self employed can have business fall to near zero during a recession. Most are not eligible for unemployment. Job assistance programs are counterproductive to maintaining their business.
All of these exemptions were lamented by Democrat leaders during the Bush Administration when unemployment was 4.3%. I leave the merits of the exemptions to you.
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