The United States of America is one of the most robust economies in the world, but its unemployment rate will never be 0%. That’s because there are always people who want to work and can’t find a job. The question then becomes: which unemployment rate do most economists consider to be acceptable?
This blog post discusses what percentage of people in our workforce should not have jobs, and how that has changed over recent years.
The most recent unemployment rate in the United States is about five percent. This means that there are people who want to work, but cannot find jobs which would provide them with enough income.
According to a report by Bloomberg Businessweek reported on October 18th 2016, economists such as Dean Baker of the Center for Economic and Policy Research say that “the level of unemployment currently prevailing should not be viewed as an indication of economic health.” They contend that at least four million more Americans could have jobs if it were not for structural changes in our economy which limit workers’ bargaining power over salaries and working hours.
In this blog post we will discuss what percentage of American workforce should not have jobs, how this has changed recently and what this means.
The U.S Bureau of Labor Statistics (BLS) data on the labor force which was updated in September 2016, states that unemployment rate is at a more than 16 year low and as of August dipped down to less than five percent for the first time since 2001.
In order to calculate unemployment rates, BLS surveys households every month for one week out of 12 where people are asked questions about their employment status. They also survey employers who must provide information on number employees working hours and wages per week among other things each quarter…
The Respected Rate of Unemployment in the United States: What One Should Be: which unemployment rate do most economists consider to be acceptable in the united states? This
question is not an easy one to answer. One would have to first agree on the criteria which defines a “good” or “acceptable” unemployment rate, then rank and compare countries’ unemployment rates in order to evaluate if they are at a level that meets this criterion.
In order to calculate unemployment rates, BLS surveys households every month for one week out of 12 where people are asked questions about their employment status. They also survey employers who must provide information on number employees working hours and wages per week among other things each quarter… The government agency makes it public when looking back over time through monthly reports called Employment Situation Summary (ES).
In late September 2016 data was revealed by Bureau of Labor Statistics (BLS) which
showed that the unemployment rate in the US was at a historically low level of just below five percent.
The good news is this number has decreased significantly from its peak of around ten percent during 2008 to 2009.
But, it still remains well above what most economists deem as “good” or acceptable which is somewhere between four and six percent (according to an article published by Investopedia).
This could be because many people who have been unemployed for more than 27 weeks are not eligible for any benefits under federal laws which means they may never get back into jobs – so these high rates will continue even when the economy turns up again.
Some other countries across Europe also have very similar or higher levels of unemployment.
Countries like Bulgaria, Greece and Spain are at ten percent or more which is much higher than the EU average of just over eight percent.
These numbers can be attributed to a variety of factors such as tough economic conditions in Europe, increased competition for jobs with immigrants coming from Eastern European Union countries where unemployment rates have been historically lower, and also high levels of youth unemployment across many parts of Europe.
The Respected Rate: this rate has decreased significantly from its peak during 2008 to 2009 but still remains well above what most economists deem “good” or acceptable which is somewhere between four and six percent according to an article published by Investopedia. This could be because many people who have been unemployed for more than 27 weeks
