EF-0. Economy Stats with links to original sources. Links to LBN jobs threads thru 5/2/25

[progree]

32. EF-10. Definitions, Links

Last edited Tue Feb 28, 2023, 03:22 AM - Edit history (9)

[] Formulas:
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{#} Formulas


All the below terms apply to the civilian non-institutional population age 16 and over. So for example, the terms below like "unemployed", "labor force", "population", "not in labor force" and so on do not include anyone under 16, nor anyone in the military, in prison, or in nursing homes, to name a few institutionalized populations.

All of the below statistics can be found at the top of Table A ( http://www.bls.gov/news.release/empsit.a.htm ) and Table A-1 ( http://www.bls.gov/news.release/empsit.t01.htm )

Unemployed: Jobless but who have actively sought work in the last 4 weeks. This is the numerator in the U-3 measure of the unemployment rate.

Labor force = Employed + Unemployed. ` Think of it this way: Employed + "looking", where "looking" here means have actively sought work in the last 4 weeks. (also called the Civilian Labor Force in Table A).

Population is the civilian non-institutional population age 16 and over

Population = Labor Force + Not in Labor Force

Not in Labor Force = Population - Labor Force

Unemployment Rate = Unemployed / Labor Force . This is the official (U-3) measure

Labor Force Participation Rate (LFPR) = Labor Force / Population

Employment To Population Ratio (ETPR) aka Employment Rate = Employed / Population


The BLS timeseries numbers - e.g. Population is at http://data.bls.gov/timeseries/LNS10000000
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Seas Adj ` `Not Seas Adj
LNS10000000 LNU00000000 Population (seas adj and seas not adju are identical)

LNS11000000 LNU01000000 Labor Force

LNS12000000 LNU02000000 Employed

LNS13000000 LNU03000000 Unemployed

LNS11300000 LNU01300000 Labor Force Participation Rate (LFPR)

LNS14000000 LNU04000000 Unemployment Rate

LNS13327709 LNU03327709 U-6 Unemployment Rate (not included in any of the formulas above, but here for quick reference


[] Unemployment Measures (U-1 through U-6)
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{#} Unemployment Measures (U-1 through U-6)

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http://www.bls.gov/news.release/empsit.t15.htm
Definitions: http://www.bls.gov/lau/stalt.htm

The official concept of unemployment (as measured in the CPS by U-3 includes all jobless persons who are available to take a job and have actively sought work in the past 4 weeks.

U-1 through U-3: http://data.bls.gov/timeseries/LNS13025670&series_id=LNS14023621&series_id=LNS14000000

U-4 through U-6: http://data.bls.gov/timeseries/LNS13327707&series_id=LNS13327708&series_id=LNS13327709

In the below, I also include the Not seasonably adjusted equivalent series number at the end like this, for example for U-1: (NSA: LNU03025670)

Numbers in () are July 2016 numbers

U-1 (2.0%) http://data.bls.gov/timeseries/LNS13025670 (Seas) Unemployed 15 Weeks & over, as a percent of the civilian labor force (NSA: LNU03025670)

U-2 (2.3%) http://data.bls.gov/timeseries/LNS14023621 (Seas) Unemployment Rate - Job losers and persons who completed temporary jobs, as a percent of the civilian labor force; (NSA: LNU04023621)

U-3 (4.9%) http://data.bls.gov/timeseries/LNS14000000 (Seas) total unemployed, as a percent of the civilian labor force (this is the official unemployment rate, and the "headline" unemployment rate used in the media. To be counted as unemployed by this measure, one must be jobless and have actively sought work in the past 4 weeks); (NSA: LNU04000000)

U-4 (5.2%) http://data.bls.gov/timeseries/LNS13327707 (Seas) Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers (NSA: LNU03327707)

U-5 (6.0%) http://data.bls.gov/timeseries/LNS13327708 (Seas) Total unemployed, plus discouraged workers, plus all other marginally attached workers (in other words: total unemployed plus all marginally attached workers), as a percent of the civilian labor force plus all marginally attached workers (NSA: LNU03327708)

U-6 (9.7%) http://data.bls.gov/timeseries/LNS13327709 (Seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers (NSA: LNU03327709)

See U-1 thru U-6 together, each line a different color (scroll down to Chart # 20 ): http://www.bls.gov/web/empsit/cps_charts.pdf

Labor force: are Employed people + Unemployed people by the U-3 definition above (jobless but have actively sought work in the past 4 weeks). I think of the labor force as "Employed + Lookers".

Table A-16 http://www.bls.gov/news.release/empsit.t16.htm
Sorry: this data is only available as NOT Seasonally Adjusted

The indentation in the table below indicate subsets. For example, the "Persons who currently want a job" is a subset of "Total not in labor force", so this is not all people who currently want a job, but rather people not in the labor force who currently want a job. By parsing the definition of labor force, the below "Persons who currently want a job" category boils down to those jobless people who want a job but have not looked in the last 4 weeks (because you are counted as being in the labor force if you have looked in the last 4 weeks)

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Total Not in Labor Force and its subsets
Total not in the labor force Total: LNU05000000 Men: LNU05000001 Women: LNU05000002
...Persons who currently want a job Total: LNU05026639 Men: LNU05026640 Women: LNU05026641
......Marginally attached to the labor force Total: LNU05026642 Men: LNU05026643 Women: LNU05026644
.........Discouraged workers Total: LNU05026645 Men: LNU05026646 Women: LNU05026647
.........Other persons marginally attached to the labor force Total: LNU05026648 Men: LNU05026649 Women: LNU05026650
......Wants a job but hasn't looked in the last 12 months: persons who currently want a job minus the marginally attached
...Doesn't want a job, jobless (Progree calc)


July 2016: (in thousands), NOT SEASONALLY ADJUSTED:
Table A-1 gives seasonally adjusted and not seasonally adjusted for the first 3 below. Table A-16 gives only not seasonally adjusted for the last 3 items below (there are no seasonally adjusted numbers for these anywhere). For consistency I am showing all of the below as NOT seasonally adjusted. Below are in THOUSANDS, NOT Seasonally Adjusted
.... 8,267 Unemployed (the officially unemployed -- have looked for work in the last 4 weeks)
.... 92,916 Not in labor force (jobless, haven't looked for work in the last 4 weeks)
....... 6,244 Persons who currently want a job (6.7% of those not in the labor force)
.......... 1,950 Marginally attached (want a job, looked in last 12 months but not last 4 weeks)
.............. 591 discouraged workers (those marginally attached who also cite in some form that don't think jobs are available)
.............. 1,359 other marginally attached persons (cites reasons such as family responsibilities, ill health,....)
.......... 4,294 Wants a job but hasn't looked in the last 12 months (Progree calc)
....... 86,672 Jobless and doesn't want a job, (Progree calc)
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The indentation in the table below indicate subsets

Persons who currently want a job is a subset of those NOT in the labor force (if you looked for work in the last 4 weeks, you are counted as being in the labor force, so "Persons who currently want a job" in the above table are people who say they want a job but have not looked in the past 4 weeks).

Marginally attached workers are those who want a job and are available for work, and looked in past 12 months but not in past 4 weeks) - Table A-16 http://www.bls.gov/news.release/empsit.t16.htm - 1.950 million, down by 23,000 from a year ago (not seas adj)

Discouraged workers are a subset of marginally attached workers. They want and are available for work, and looked in past 12 months but not in past 4 weeks. Additionally, unlike some marginally attached workers, they said they didn't look for work because they don't think jobs are available for them - Table A-16 http://www.bls.gov/news.release/empsit.t16.htm - 591,000, down by 77,000 from a year ago (not seas adj)

Other persons marginally attached to the labor force - it’s the other subset of marginally attached workers. It is all marginally attached workers except for Discouraged workers. Includes those who did not actively look for work in the prior 4 weeks for such reasons as school or family responsibilities, ill health, and transportation problems, as well as a number for whom reason for nonparticipation was not determined. - Table A-16 http://www.bls.gov/news.release/empsit.t16.htm -

[] Other economic reports, e.g. Housing Starts, ..
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{#} Other Economic Reports, e.g. Housing Starts,...

{} Housing Starts, Building Permits, Commerce Dept (odd that the website is census.gov)
http://www.census.gov/construction/nrc/pdf/newresconst.pdf
http://www.census.gov/starts
Yo Mama discussion of February 2015's figures (highly analytical, excellent) http://www.democraticunderground.com/?com=view_post&forum=1014&pid=1041722

{} Retail Sales - U.S. Dept of Commerce (yes, they are seasonally adjusted too. No, they are not adjusted for inflation)
https://www.census.gov/retail/index.html
https://www.census.gov/retail/sales.html
https://www.census.gov/economic-indicators/#retail_sales
https://www.census.gov/retail/marts/www/marts_current.pdf

Advance Retail Sales: Retail Trade and Food Services (RSAFS) (FRED) - this is "retail sales"
https://fred.stlouisfed.org/series/RSAFS
Percent change from prior month: https://fred.stlouisfed.org/series/MARTSMPCSM44X72USS

Inflation-adjusted, in 1982-1984 dollars: https://fred.stlouisfed.org/series/RRSFS
(I can't find a percent change version, haven't looked REAL hard)


{} Census Bureau Economic Indicators
Something to explore some day: http://www.census.gov/economic-indicators/

{} Net worth Households and Nonprofit Organizations, Federal Reserve survey
http://finance.yahoo.com/news/the-federal-reserve-has-good-news-for-hillary-clinton-195941999.html

FRED: Households and Nonprofit Organizations; Net Worth, Level (TNWBSHNO) - This is *NOT* inflation adjusted
https://fred.stlouisfed.org/series/TNWBSHNO

Doug Short - Households and non-profit net worth
# Nominal
# Real ("real" means inflation-adjusted)
# Real per capita
# All these graphs are below, including with exponential regression lines
# Sadly, no indication of how much of the wealth is held by say the bottom 90%. So while it looks great, it doesn't tell you anything about its distribution
http://www.advisorperspectives.com/dshort/updates/Household-Net-Worth

{} See EF-9 Incomes and Inequality section for many more