So as the baby boomers get older they skew the numbers.
Originally Posted by BigLouie
There are "baby boomers" who have reached retirement age, were terminated, and have elected not to waste their time seeking a replacement job when they can exercise their option for retirement if they are "vested" and of age to do so.
There are also "baby boomers" who, for individual reasons, do not find it necessary to seek a full time job (kids grown, educated, and gone), but find part time or contract (self-employment) work to replace some of the income they have lost.
Finally there are "baby boomers," who lost their jobs and have gone into business for themselves, who are also not counted.
The motivation behind those shifts have to do with the job market. Period.
What actually "skews" the numbers is a "tweaking" of the variables used to calculate the ACTUAL unemployment ... reducing "full time" to 30 hours, instead of keeping it at 40 (or even 32 which is the "benefit" required level).
What also affects the numbers are those people who have given up looking for a job, and have resorted to "assistance" to sustain them with one income in the family.
The bottom line is the published "unemployment rate" does not reflect reality.
Perfect example: September and October 2000 ... The BLS used September 2000 figures for October 2000 in the ramp up to the 2000 General election ... the AFL-CIO went ballistic over the fudging of the numbers and attacked the information on it website ... and of course Bill went ballistic whining about the criticism in December 2000. Later on in 2001 it was determined the economy had been on a down turn since March 2000.
And to assert that it is because of an increase in "technology" is incorrect.
A beef I had with the Reagan years is the eliminating of the real estate limited partnership tax shelter in which 200 to 300 unit apartment complexes were held with a income related sliding scale for renters (providing affordable multi-family housing) in which no profit could be taken from the partnership for 20 years (25?), so the "income" had to be plowed back into the complexes, which meant new appliances, new roofs, constant replace and upkeep, and high maintenance ... all providing manufacturing, delivery, service, repairs, and replacement jobs ... replacing 200 refrigators and 200 AC units every 2-3 years with a roof every 5-6 years was a good pop and there were literally 100s of them around the country.
In addition a 90 day window (may have been 60) for the sale of those units without having to pay capital gains was passed, which put a glut of units on the market in a "fire sale" atmosphere that drove down housing values ... at a time when the real estate market was already suffering.
That's what a "tax increase" will get you.