On: The True Rate of Unemployment

[4death4]

Another way of phrasing this is 23% want a job earning more than 25K per year and are incapable of finding one. I can’t imagine living on 25K per year. While I would technically be “employed” I wouldn’t be happy about it. What is the purpose of measuring employment? I think satisfaction with one’s living circumstances is certainly part of the reason. From that perspective, the measure proposed in TFA makes some sense.

[comte7092 → 4death4]

I have no problem with the measure, I have a problem with the claim that it’s the “true” number.

I’d even be fine with “better”.

[4death4 → comte7092]

There’s no “true” Scotsman after all.

[phonon → 4death4]

I know people who earn that much...

1. Rent is a few hundred dollars a month

2. No car, use mass transit

3. Single

4. Work less than 40 hours a week in a job they enjoy....

At that income level, taxes are pretty close to zero (including FICA) because of the Earned Income Tax Credit.