tag:blogger.com,1999:blog-5912833783359356343.post1492022967835456780..comments2023-11-02T06:44:25.146-05:00Comments on Molly's Middle America: How Many Jobs Has Obama Created or Lost? September 2014Middle Mollyhttp://www.blogger.com/profile/11441441493867436577noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5912833783359356343.post-44504163986277731842014-10-12T02:19:28.494-05:002014-10-12T02:19:28.494-05:00Much of what you have written about younger worker...Much of what you have written about younger workers is true. We can certainly thank the Republican Recession for the problems that young people will have many years into the future, can't we?<br /><br />The unemployment rate for young people continues to decline. The A16 monthly BLS table gives us data on young people, 16-24. The unemployment rate for young college graduates under age 25 is now 7.9%, but it's a relatively small population and a very volatile number. It has been trending lower, but it is still not as low as that of college-educated people 25 and over. <br /><br />OK, to reply to this, taken from EPI: " The March 2013 unemployment rate of 16.2% for workers under age 25 was slightly over twice the national average."<br /><br />I should look at EPI a little more carefully... They seem not to be doing that well on their basic facts. The implication of this statement is that it is unusual and not good for the unemployment rate for young people 16-24 to be twice that of the overall unemployment rate. But that turns out not to be true. I just threw the unemployment rate of people 16-24 on a spreadsheet and compared it to the overall unemployment rate going back to the late 1940's. Glory and saints alive! That ratio tends to be LOWER during recessions and higher when the economy is stronger! And, since 1949, that ratio has never varied from between 1.8 and 2.6, in other words young people 16-24 ALWAYS have an unemployment rate between 1.8 and 2.6 times that of the overall unemployment rate. ALWAYS. The HIGHEST that ratio has ever been was in the boom years of 1999-2000. In recent years, that ratio was highest (2.36 to 2.41) in late 2006. And the LOWEST that ratio has ever been in the last 40 years was in the recession year of 1983, and, again in the recent recession years of 2009-2011. It is actually appears to be a characteristic of a STRENGTHENING economy when the ratio of the unemployment rate among young people doubles that of the overall unemployment rate. So EPI may have some valid points about unemployment among young people, but this is not one of them. <br /><br />And the unemployment rate for young people 16-24 is now 13.7%, a drop of 2.5% over the past year and a half. Data from 2013 is hopelessly out of date this year, as improvements in employment and unemployment rates are pretty strong. Middle Mollyhttps://www.blogger.com/profile/11441441493867436577noreply@blogger.comtag:blogger.com,1999:blog-5912833783359356343.post-90402724484045870202014-10-03T21:14:48.115-05:002014-10-03T21:14:48.115-05:00I will answer your comments in detail over the wee...I will answer your comments in detail over the weekend.Middle Mollyhttps://www.blogger.com/profile/11441441493867436577noreply@blogger.comtag:blogger.com,1999:blog-5912833783359356343.post-57449050095467146502014-10-03T16:00:31.582-05:002014-10-03T16:00:31.582-05:00According to Wikipedia:
Unemployment among younge...According to Wikipedia:<br /><br />Unemployment among younger workers<br /> <br />The employment situation from 2009 to 2013 was particularly difficult for younger workers. The Economic Policy Institute reported in April 2013 that:<br /><br /> The March 2013 unemployment rate of 16.2% for workers under age 25 was slightly over twice the national average.<br /><br /> Weak demand for goods and services is the primary driver of this unemployment, not a skills mismatch.<br /><br /> Graduating in a bad economy has long-lasting economic consequences. For the next 10 to 15 years, those in the Class of 2013 will likely earn less than if they had graduated when the economy were at its potential.<br /><br /> For young high school graduates, the unemployment rate is 29.9% (compared with 17.5% in 2007) and the underemployment rate is 51.5% (compared with 29.4% in 2007).<br /><br /> For young college graduates, the unemployment rate is 8.8% (vs. 5.7% in 2007) and the underemployment rate is 18.3% (vs. 9.9% in 2007).[78]<br /><br />Job openings relative to unemployed<br /> <br />The ratio of job seekers to job openings is another indicator used to analyze unemployment trends. The number of unemployed persons per job opening rose from 2.9 in 2003 to 6.7 at its peak in July 2009, before falling to 3.1 in April 2013. EPI reported in June 2013 that: "In today’s economy, unemployed workers far outnumber job openings in every sector...This demonstrates that the main problem in the labor market is a broad-based lack of demand for workers—and not, as is often claimed, available workers lacking the skills needed for the sectors with job openings."[79][80]<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5912833783359356343.post-69856052708855276162014-10-03T15:54:15.352-05:002014-10-03T15:54:15.352-05:00Not true. Mort voted for Obama in 2008 and has be...Not true. Mort voted for Obama in 2008 and has been a Democrat since 1970. According to Wikipedia: "..since the late 1970s, he has donated more than $68,000 to American political candidates with $42,700 going to Democratic politicians.."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5912833783359356343.post-34954636385542417842014-10-03T15:46:44.784-05:002014-10-03T15:46:44.784-05:00What's your point with all of this endless cop...What's your point with all of this endless copying of articles from here, there, and everywhere?Middle Mollyhttps://www.blogger.com/profile/11441441493867436577noreply@blogger.comtag:blogger.com,1999:blog-5912833783359356343.post-49343233055272918512014-10-03T15:38:42.456-05:002014-10-03T15:38:42.456-05:00Zuckerman is apparently an independent who has con...Zuckerman is apparently an independent who has contributed to both parties at various times. Middle Mollyhttps://www.blogger.com/profile/11441441493867436577noreply@blogger.com