Some Perspective on the Employment Situation
By Barry Ritholtz - April 1st, 2010, 12:30PM
Via Mint:
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
April 1st, 2010 at 1:01 pm
I love how they lump about 4 million in with the retired and such. Like their off somewhere in the Bahamas luxuriating on their yaht or something.
And then they wonder why folks are so mad?
April 1st, 2010 at 1:20 pm
Civilian non-institutionalized population?
Why is that in the negative thus making the lock ups the norm?
The lunatics are running the asylum again.
April 1st, 2010 at 1:43 pm
I think this graphic is very helpful. It show that only about 40% of the population actually works. And that in the big scheme of things the level of unemployment (while very very high, and it needs to come down, and IS moving in the right direction)… its not some huge thing in the big scheme of things.
They must be excluding children? (bc total population should be 300M… not 237M)
April 1st, 2010 at 1:52 pm
Wierd that they dont include in the characterizations of the “Not In Labor Force”:
– spouses who care for kids and dont work
– wealthy
– people over 16 but in school, even older 25+, 30+ yr olds in graduate school
They had mainly negative descriptions.
April 1st, 2010 at 3:26 pm
While I am not a fan of the methods we use to figure employment statistics in this country, I do like this chart.
I wish it showed a longer-term historical perspective, however.
A few posts back (on 3.31) there were some interesting employment charts from a longer-term historical perspective; as well I posted a few others on my blog here:
http://www.economicgreenfield.com/2010/03/25/disturbing-charts-part-ii/
April 1st, 2010 at 4:18 pm
Wow, from a high enough altitude a surge of millions of unemployed looks like gently rolling green hills on a tropical island as seen from a catamaran. Lovely pink sky.
April 1st, 2010 at 5:21 pm
@Cognos
I too think it’s weird they don’t include the wealthy, students, and “homemaker” spouses in the characterizations of the “Not In Labor Force”.
April 1st, 2010 at 6:58 pm
CMD along with economist, Dean Baker just released a financial crisis and bailout widget, estimating $4.6 trillion of federal funds has been disbursed. Totals for all programs and subprograms of the bailout can be seen in their analysis as well. This is the first time that the bones of the bailout are completely detailed in one place.
Total Wall Street Bailout Cost Table, which contains links to pages on each bailout program with details including the current balance sheet for each program: http://salsa.democracyinaction.org...
Financial Crisis Tracker, a widget for the table that can be downloaded to websites to get up-to-date numbers on the financial crisis and the bailout:
http://salsa.democracyinaction.org...
April 2nd, 2010 at 3:31 am
Is the graph for unemployed based on U3?
April 2nd, 2010 at 7:09 am
83.8M not working in loggable work: old, retired, discouraged/displaced, drug dealers, professional thieves, under the counter economy no-file 1040s.
16.0M unemployed: collecting a stipend check plus looking for a job in gov database?
137.2M: working in the game and loggable taxpayers.
Interesting graph. Only 5 years? Would like to see a century including the world wars.
The fine print says 16 year olds is the entry point for counting. It also discludes military – why?
April 2nd, 2010 at 7:31 am
just got to HuffPo .. GoodFriday headline slaps you on the cheek .. “COME TO MOMMA – Millions Of Young Adults Eager To Get Back On Parents Health Insurance ”
I immediately thought of this graph and the 137.2M: working in the game .. and most* of those workers in a employer supported insurance plan .. it (HCreform) needs to be done .. but like JoeB said “this is f^@&ing big”
* would be an interesting addition right about now across the chart
April 2nd, 2010 at 11:06 am
[...] it’s a holiday, I will present to you this gigantic chart that Barry Ritholtz found on Mint.com, which gives us a really good look at the US work [...]