Attn. Scotty, Plattekill 5"-6" and counting.

[BenedictGomez]

More important than U-6 is the labor force participation rate which has been steadily declining. If participation rate drops so does unemployment. Doesn't mean the job market is getting better. It just means more people have totally given up.

Correct. And the LFPR is at it's lowest point in eons.

The below graph is the newest government data on LFPR, just released this morning, it paints a very bleak picture of the last 5 years.

 

[BenedictGomez]

Speaking of statistics, I'm hoping for a near record attendance for Platty this weekend given the articles written recently "outing" them as a great place to avoid crowds.

And by "record attendance", I mean there may very well be a draconian 3 minute wait for lifts!

 

[steamboat1]

They can only "give up" when they have some means to live on. So they may not count in the stat but they're out there job hunting nonetheless.

If they are out there job hunting they are included in the unemployment rate.

 

[ScottySkis]

Unemployment is higher now than it was in 2008.

Not to get too wonky, but when you commonly hear "unemployment is at 7.8%" on television, you have to understand that that is what is referred to by economists as the U3 unemployment metric, the official government number, which is fairly useless and intentionally misleading.

You need to adjust that for the millions of people who have been unemployed ≥ 365 days, whom are no longer counted as "unemployed" in the BLS data (that change was made in 1994). Do that, and you arrive at the real unemployment rate, which is about 12.5%, or roughly 1 in 8 American workers.

But it actually gets a bit worse.

If you look at the marginally attached workforce and all the forced part-time workers that want to work a 40 hour week, but cannot find full-time jobs (this is called U6 unemployment) you get closer to 15% unemployment.

I mean my job we don't do maybe sales and orders are down probably 50% compared to before the economy crashed.

Sent from my ADR6410LVW using Tapatalk 2

 

[kingslug]

If they are out there job hunting they are included in the unemployment rate.

Well they are cutting my takehome for sure these days...

 

[MadMadWorld]

Just be thankful you don't live in MA. Deval plans to increase my income tax AND reduce the number of tax deductions! I thought you did one so you didn't have to do the other? I despise the man.

 

[marcski]

Speaking of statistics, I'm hoping for a near record attendance for Platty this weekend given the articles written recently "outing" them as a great place to avoid crowds.

And by "record attendance", I mean there may very well be a draconian 3 minute wait for lifts!

I hope there won't be such bad lift lines. I don't think they will be that long...I certainly hope not!! I'll be there..chasing my girls around...give me a shout out....we'll definitely be hanging out for happy hour and dinner in the lodge on Sat night. I wear a bright blue jacket and will be with my little one all weekend:

 

[abc]

If they are out there job hunting they are included in the unemployment rate.

But how? How does anyone know whether I'm out job hunting or not?

Suppose my unemployment benefit runs out, I'll be off the radar of the government statistic.

 

[steamboat1]

But how? How does anyone know whether I'm out job hunting or not?

Suppose my unemployment benefit runs out, I'll be off the radar of the government statistic.

It's done statistically by telephone survey. Whether you're collecting benefits or not if you have been actively seeking work during the previous 4 weeks you are included in the unemployment rate (U-3).

If you are marginally attached or working only part time because you can't find a full time job you are in the (U-6) unemployment rate. Marginally attached means you've looked for work in the past 12 months.

 

[BenedictGomez]

I hope there won't be such bad lift lines. I don't think they will be that long...I certainly hope not!! I'll be there..chasing my girls around...give me a shout out....we'll definitely be hanging out for happy hour and dinner in the lodge on Sat night. I wear a bright blue jacket and will be with my little one all weekend:

Cant wait to teach kids how to ski someday, and I'd like them to learn at Platty! I'm actually going to be at Gore/Whiteface this weekend though, possibly might hit Platty on Monday, but unsure at this point. Will PM you if it happens.

 

[ScottySkis]

If they are out there job hunting they are included in the unemployment rate.

My close friend was unemployed for over two years, he does not collected money now, so they don't count him in the numbers, luckily for him he is an Iraqi veteran and going to get his PHD now in his love political science.

 

[BenedictGomez]

^ The St. Louis Fed released a report last week that stated the average person who losses his/her job right now is unemployed for 40 weeks. That is exactly double the 20 week average of the prior 3 recessions in American history. It cannot be overstated how much the US economy blows right now.

 

[steamboat1]

My close friend was unemployed for over two years, he does not collected money now, so they don't count him in the numbers, luckily for him he is an Iraqi veteran and going to get his PHD now in his love political science.

Collecting has nothing to do with it. He's probably not counted because he isn't looking for work. If he's a student then he's not counted in unemployment rates or the labor participation rate.

 

[ScottySkis]

Collecting has nothing to do with it. He's probably not counted because he isn't looking for work. If he's a student then he's not counted in unemployment rates or the labor participation rate.

He had a good profession, got fired, collected unemployment for 2 years, then started his PHD program so proud if him, not sure why he or is not counted.

 

[andyzee]

90% chance of catching me at Platty Sun.

 

[SIKSKIER]

What's the unemployment rate at Platty is what this thread should be titled now.

 

[kingslug]

100% chance I can catch you..BWHAHAHAHAHAHAHAHAHAHA.........funny guy..thats me....

 

[MarkC]

Just got on from a run down Blockbuster. Guns are on full blast and there is perfect man made powder on skiers right.

 

[kingslug]

Just got on from a run down Blockbuster. Guns are on full blast and there is perfect man made powder on skiers right.

tell them to leave them on ...so I can have some Sunday...

 

[MarkC]

tell them to leave them on ...so I can have some Sunday...

There is a TON of snow on Block right now.