Re:Why is it so hard to find a job despite low unemployment?
by actuallyalys on Saturday February 03, 2024 @10:28PM
(#39247263)
I think this perspective is simplistic, but the U.S. government does produce basically this number (although I think they exclude children): https://fred.stlouisfed.org/series/EMRATIO. Currently it's 60.2 percent, a value higher than immediately after the major COVID layoffs or the 2008 financial crisis but lower than peaks in the 80s, 90s, or 00s. Most of this drop is because of the U.S.'s aging population. Looking at the same ratio from people between 25 and 54 shows it's 80.6 percent, about as high as ever: https://fred.stlouisfed.org/series/LNS12300060.
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Re:Why is it so hard to find a job despite low unemployment?
by ipaddr on Saturday February 03, 2024 @11:32PM
(#39247643)
This is interesting. I think 25 to 54 is the key working age range. I'm curious if homemaker or stay at home dad is represented
Re:Why is it so hard to find a job despite low unemployment?
by actuallyalys on Sunday February 04, 2024 @12:24AM
(#39247834)
Yeah, economists sometimes call it "prime age."
I'm not sure what you mean by "represented"? Someone who doesn't have a job in order to be a caretaker or keep up a household would count as not employed, even though those people are still doing work. (The same would apply for people without jobs and spend their time in school or volunteering.)
They do ask why people aren't working in government surveys, so that information is available to analyze. I wasn't able to quickly find an overall recent figure, but there is a figure for people who are technically in the labor force but haven't looked for work in the last month: https://www.bls.gov/web/empsit/cpseea38.htm. And I also found an older figure: https://www.bls.gov/opub/btn/volume-4/people-who-are-not-in-....