If you do not count those who are long term unemployed, you are not analyzing the true economy.

A comment I made to the following is posted here:

Virgil Bierschwale

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Problem with your analysis is this.
If you do not count those who are long term unemployed, you are not analyzing the true economy.

Your own labor force participation rate data shows how many of us are out of work.
My research where I divide the population by the highest year we had the most employed in 2000 also shows that we have fewer people working now than we did in 2000, even though the population increases daily.

My chart can be seen here.


I posted this after reading the following article.

The national unemployment rate may make the headline news every month, but many folks are most interested in understanding their own local economy.

BLS has a stat for that (really MANY statistics for that)! In fact, BLS data were highlighted in a webinar focusing on local data sponsored by the Association for Public Data Users, the American Statistical Association, and the Congressional Management Foundation.

Dr. Martin (Marty) Romitti, a Senior Fellow at the Center for Regional Economic Competitiveness, presented a webinar called “Understanding Your Congressional District’s Economy and Workforce Using Federal Statistical Data.” Though geared to Congressional staff, the information is applicable to anyone interested in knowing more about their local economy.

By using an extended example of the Napa, California, metropolitan area (where we immediately think, “Wine Country!”), Dr. Romitti finds some interesting information that may shatter some of your preconceived notions of that region.

He does this by answering 10 questions — 5 about “our people,” where he uses U.S. Census Bureau data and 5 about “our economy,” where he uses BLS data.

We are going to focus on the BLS portion (run time 31:12)* of the webinar. The five questions Dr. Romitti poses about our economy are:

  1. How healthy is my economy now?
  2. How many unemployed people live in my area?
  3. What are the largest employing industries?
  4. Which industries pay most to workers?
  5. What are our economic strengths?



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