Are unemployment rates really dropping or are more people being dropped from unemployment?
Are these jobs appearing out of literally thin air and the unemployment rate dropping. Or are thousand being dropped because the state says they have exhausted all funds? Weigh in?
More and more people are being dropped from unemployment. Jobs don't appear out of thin air...
Unemployment is measured in various ways. The U3 unemployment data is what the media reports. That includes only a limited number of people. It also counts someone as employed if they found part time work of as little as 1 hour per week. The real # is the U6 data. This includes those whom have fallen off the unemployment roles. It also lists those whom are interested in working full time but can't find full time work. The U6 unempoyment rate is actually currently about 14.5%.
The sad fact is we are not creating jobs fast enough to even keep up with population growth and the overall labor participation rates have actually dropped substantially.
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