[TriLUG] OT: PT One tech issue from tonight's debate

[David Burton]

[Part 2 of 2]

Here's how you calculate it.

If the Sept. 2012 labor force participation rate were 65.6644% (as it
was in Jan. 2009), the civilian labor force would be 0.656644 x 243,772,000
= 160,071,000 instead of 155,063,000.

The difference is 160,071,000 - 155,063,000 = 5,008,000 (i.e., just over 5
million more discouraged workers).

If the labor participation rate hadn't dropped, they would be
added to the unemployed: 12,088,000 + 5,008,000 = 17,096,000 thousands
(over 17 million unemployed!).

That means the unemployment rate would be 17,096,000 / 160,071,000 =* 0.106803
= **approximately 10.7% unemployment* (compared to the officially-claimed
7.8%).

Of course, here in NC, it's even worse.  NC has something like the 4th or
5th highest unemployment rate in America.

So it's no wonder that IT people can't find work.  Nobody can.

Dave

Refs:
http://www.bls.gov/news.release/archives/empsit_02052010.htm
http://www.bls.gov/news.release/archives/empsit_10052012.htm