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EconomyEmploymentUnemployment Rate Down Due to Retirement

Unemployment Rate Down Due to Retirement

In the report The New Sick-onomy? Examining the Entrails of the U.S. Employment Situation, Daniel Alpert asks: “The official (U-3) unemployment rate has fallen to 7.6 percent from a recession high 10 percent in October 2009. Clearly, America is on the mend . . . right?”

An answer lies in the comparison of declines in the U-6 and U-3 employment rate numbers. The U-6 has declined 16.4% since the peak in October 2009. In contrast, the U-3 has declined 24%. The difference is due to a decrease in the labor force participation rate; that is, retirement. Yes, people are leaving the workforce. No the economy is not stronger for most Americans.

LPH
Layne Heinyhttp://www.layneheiny.com
LPH is a high school physics teacher interested in the Apple iPad and iPhone, Microsoft Surface, Tablet PCs, and other mobile devices. He resides with one large dog who begs for pizza, hamburgers, French fries, and anything else on the dinner table.

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