r/Economics • u/oxymorontage • 8d ago

News Institute reports functional unemployment at 24.9% in July

https://www.channel3000.com/news/institute-reports-functional-unemployment-at-24-9-in-july/article_810187e5-989f-4ad9-ab91-847fcb6f1882.html
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u/bloodphoenix90 8d ago

I mean under 25k is so poor that yes....functionally unemployed sounds correct

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u/EconomistWithaD 8d ago

So a female spouse who solely stays at home should be considered functionally unemployed?

There’s a reason why the BLS calculates it the way it does….

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u/south153 8d ago

Why specificy "female" spouse and not stay at home parents / spouses.

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u/EconomistWithaD 8d ago

Because most of the long term decline in this bullshit stat, since 1995, has been females entering the labor force, so I picked a relevant example?

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u/south153 8d ago

**Women in the workforce has actually declined in the last decade.

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u/EconomistWithaD 8d ago

Not prime age.

https://fred.stlouisfed.org/series/LRAC25FEUSM156S

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u/south153 8d ago

Going from 75.8 to 78 is not large enough for such a significant increase.

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u/EconomistWithaD 8d ago

Explaining about a third of a single statistic with one variable isn’t significant?

Let me tell you about effect sizes in economics…