Letter: When you vote, consider these job market statistics


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Posted Online: Nov. 01, 2012, 2:27 pm
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Many people believe this presidential election will be decided based upon the condition of our economy, and more specifically, based on conditions in the job market.

-- Labor Force Participation Rate -- This ratio is defined as those people working or looking for work as a percentage of the population, and many economists view this figure as a more complete measure of the economy's health than the Unemployment Rate. The Labor Force Participation Rate is currently 63.6 percent, a 31 year low.
-- Unemployment Rate -- This ratio is defined as those people who have sought work in the prior four weeks and those temporarily laid off, divided by the head count of the labor force. The unemployment rate has remained historically very high (over 8 percent for over 40 consecutive months) and recently dropped below 8 percent for the first time in over four years.
-- The U6 Ratio -- This ratio is considered the broadest measure of joblessness, and includes everyone in the unemployment rate plus "Marginally Attached Workers — (those who say they want to work but are not looking at present, and people who want full-time work but are working part-time because that is all the work they can find), divided by the head count of the labor force. This ratio has hovered around 15 percent for the past several years, historically a very high rate.

David T. Roberts,
East Moline



















 



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1889 -- 125 years ago: Harvey McKenna, of Detroit, billiard player matched to play Wizard Schafer in New York in January for the world championship, was a professional friend and manager, Billy Catton in Rock Island.
1914 -- 100 years ago: Levi Cralle, former Rock Island county sheriff, had come from his farm near Mitchell, S.D. to visit friends in the city.
1939 -- 75 years ago: Work is being rushed on the new high school building in Orion to replace the one destroyed by fire last winter. Classes are being held in churches.
1964 -- 50 years ago: Rehearsals for the 84th season of the Handel Oratorio Society chorus will begin at 7:30 p.m. Monday on the stage of Centennial Hall, Augustana College.
1989 -- 25 years ago: The Rock Island City Council's plan announced this week to have the federal government vacate Valley Homes public housing and move residents to Arsenal Courts to reduce density may not be feasible.






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