How do these numbers look for the real unemployment/employment numbers?Obviously, that can't be the total picture, we're only at 64.4%. This is why:
- Employed: 139.206 million people (58.3% of labor force)
- Unemployed: 14.485 million people (6.1% of labor force)
But the by far largest category "missing" from both the Employed and Unemployed statistics is the "Not In Labor Force": 85.2 Million people.
- Part time employed for economic reasons: 8.931 million people. This concerns people who want a full-time job but can't get one.
- Part time employed for non-economic reasons: 18.184 million people. Non-economic reasons include school or training, retirement or Social Security limits on earnings, but also childcare problems and family or personal obligations.
The BLS definition states: "Not in the labor force (NILF). A person who did not work last week, was not temporarily absent from a job, did not actively look for work in the previous 4 weeks, or looked but was unavailable for work during the reference week; in other words, a person who was neither employed nor unemployed." (Clearly, this does include lot of unemployed people).
To summarize: 108.616 million people in America are either unemployed, underemployed or "Not in the labor force". This represents 45.5% of working age Americans.
If you count the "Part time employed for non-economic reasons", you get 126.8 million Americans who are unemployed, underemployed, working part time or "Not in the labor force". That represents 53% of working age Americans.
Try to grow your economy or invest with these numbers.
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