Comments on: Is The Economy Worse Than We Think? http://allfinancialmatters.com/2009/07/15/is-the-economy-worse-than-we-think/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Fri, 25 May 2012 20:32:49 +0000 hourly 1 http://wordpress.org/?v= By: Jordan http://allfinancialmatters.com/2009/07/15/is-the-economy-worse-than-we-think/comment-page-1/#comment-431111 Jordan Tue, 21 Jul 2009 20:49:20 +0000 http://allfinancialmatters.com/?p=3700#comment-431111 We sometimes hear of this extra number as the ranks of "under-employed". In this environment (one where qualified people are more likely to take part-time jobs outside their field in order to get any income) this number highly reflects the number of "part-time" workers still seeking "full-time" jobs. If you take into consideration those that aren't reflected in the "unemployment rate" and have just given up hope (think of the two income family where one spouse loses his/her job and can't find another, so choses to stay home and take care of the family until the economy turns around), you probably have a good case to make that 16.5% is a closer reflection of the current employment situation than the simple headline unemployment rate from the BLS upon which most news outlets focus. We sometimes hear of this extra number as the ranks of “under-employed”. In this environment (one where qualified people are more likely to take part-time jobs outside their field in order to get any income) this number highly reflects the number of “part-time” workers still seeking “full-time” jobs. If you take into consideration those that aren’t reflected in the “unemployment rate” and have just given up hope (think of the two income family where one spouse loses his/her job and can’t find another, so choses to stay home and take care of the family until the economy turns around), you probably have a good case to make that 16.5% is a closer reflection of the current employment situation than the simple headline unemployment rate from the BLS upon which most news outlets focus.

]]> By: Josh http://allfinancialmatters.com/2009/07/15/is-the-economy-worse-than-we-think/comment-page-1/#comment-430356 Josh Thu, 16 Jul 2009 13:58:12 +0000 http://allfinancialmatters.com/?p=3700#comment-430356 Also, some people that already have full time jobs are also picking up part time jobs in addition to their full time job to try to get out of debt or increase their savings. Also, some people that already have full time jobs are also picking up part time jobs in addition to their full time job to try to get out of debt or increase their savings.

]]> By: Peter Luke Baptiste http://allfinancialmatters.com/2009/07/15/is-the-economy-worse-than-we-think/comment-page-1/#comment-430339 Peter Luke Baptiste Thu, 16 Jul 2009 05:18:14 +0000 http://allfinancialmatters.com/?p=3700#comment-430339 Getting your take on this issue has given me some insight I didn’t have before Getting your take on this issue has given me some insight I didn’t have before

]]> By: LOL http://allfinancialmatters.com/2009/07/15/is-the-economy-worse-than-we-think/comment-page-1/#comment-430286 LOL Wed, 15 Jul 2009 21:27:17 +0000 http://allfinancialmatters.com/?p=3700#comment-430286 Husband gets laid off and starts job hunt to find new (high paying) job. Both husband & wife get part-time job to help make ends meet. Once husband finds good paying job -- both husband and wife quit their part-time jobs (maybe wife keeps hers if she likes it). So, I can see how a single laid off person would double the 'part-time' workforce numbers. 16.5% unemployed is too high a number and does not even pass simple assertion checks. Husband gets laid off and starts job hunt to find new (high paying) job. Both husband & wife get part-time job to help make ends meet. Once husband finds good paying job — both husband and wife quit their part-time jobs (maybe wife keeps hers if she likes it).

So, I can see how a single laid off person would double the ‘part-time’ workforce numbers.

16.5% unemployed is too high a number and does not even pass simple assertion checks.

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