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Politics : American Presidential Politics and foreign affairs
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To: greatplains_guy who wrote (71420)3/24/2015 7:29:45 PM
From: TimF  Read Replies (1) of 71588
 
I think your trying to make the case that "real unemployment" is closer to the number given by U6 then by the other measurements. But U1 through U6 all measure different things. In theory its possible for U6 to be deliberately manipulated to look better, but still be higher than an honest (or even manipulated in the other direction) U1, 2 or 3. Its not all that likely that one is massively more accurate then the others (although I would except small differences in their accuracy).

U1 might be honestly measured and reported. The point about it is not so much manipulation but that honest or not it isn't what most people think of when they think of unemployment. Its not a measure of people who are out of work and looking for work, its only a measure of the long term, or at least medium/long term unemployed. If I get laid off, don't have a job but want one, search for a month without getting one, or even two or three months, I still don't show up under U1. OTOH U6 includes part time workers as "unemployed" (if they want to work full time), and they simply are not unemployed

The three numbers that could reasonably be considered unemployment rates would be U3 (the official number) and the higher U4 and U5.

You might mean that you think the number of unemployed people that U3 is supposed to measure, is actually closer to the number that is reported for U6. If that's the case then U6 would also be very inaccurate, the real number for U6 would be the current number for U6 plus a lot of other people. So U6 wouldn't be more accurate.
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