Re:SpaceX to lay off 10% of Workforce
by TheCoelacanth on Saturday January 12, 2019 @11:17AM
(#18891797)
The employment to population ratio is 79.7% for people 25-54. That has only been exceeded for less than 10 years in history. The only time it has ever been exceeded by more than a point was June 1997-May 2001 during the dot-com bubble.
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For some demographic groups, labor force participation is significantly lower. This is what I’m referring to.
Unemployment only factors in labor force participants.
Data: https://www.bls.gov/emp/tables/civilian-labor-force-particip...
Re:SpaceX to lay off 10% of Workforce
by TheCoelacanth on Saturday January 12, 2019 @12:01PM
(#18892037)
Employment to population ratio does not exclude anyone. It is the number of people divided by the number of people who are employed. It is also not 2016 anymore. The prime-age labor force participation rate has risen about a point since then.
Labor force participation rate is also not a measure of employment. It is the number of people who are employed plus the number of people who are actively looking for employment but who aren't employed. If you want strictly what portion of the population is currently working, that is employment to population ratio, which is what I posted.