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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1914 -- 100 years ago: Troops are pouring into Paris to prepare for defense of the city. The German army is reported to be only 60 miles from the capital of France.
1939 -- 75 years ago: The German army has invaded Poland in undeclared warfare. Poland has appealed to Great Britain and France for aid.
1964 -- 50 years ago: Publication of a plant newspaper, the Farmall Works News, has been launched at the Rock Island IHC factory and replaces a managerial newsletter.
1989 -- 25 years ago: Officials predict Monday's Rock Island Labor Parade will be the biggest and best ever. Last minute work continues on floats and costumes for the parade, which steps off a 9:30 a.m.




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