Hidden Unemployment

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Employment In July 2018, there were 20.9 million employed 16- to 24-year-olds, about the same number as the summer before. Between April and July 2018, the number of employed youth rose by 2.0 million, in line with the change between April and July 2017. The employment-population ratio for youth—the proportion of the 16- to 24-year-old civilian noninstitutional population with a job—was 55.0 percent in July 2018, little changed from the prior year. (See tables 1 and 2.) Employment-population ratios in July 2018 were higher than a year earlier for young women (54.8 percent), Whites (58.0 percent), and Hispanics (51.7 percent). The ratios declined for young men (55.2 percent) and Asians (39.7 percent). The ratio for Blacks, at 47.2 percent in July, was about unchanged from the summer before. In July 2018, the largest percentage of employed youth worked in the leisure and hospitality industry (26 percent), which includes food services. An additional 18 percent of employed youth worked in the retail trade industry, and 11 percent worked in education and health services. (See table 3.) Unemployment Unemployment among youth rose by 567,000 from April to July 2018, compared with an increase of 458,000 for the same period in 2017. The youth unemployment rate, at 9.2 percent in July 2018, was little changed from July 2017. This represents the lowest summer youth unemployment rate since July 1966. The number of unemployed youth was 2.1 million in July 2018, little different from a year earlier. Of the 2.1 million unemployed 16- to 24-year-olds, 1.5 million were looking for full-time work in July 2018, also little changed from July 2017. (See tables 1 and 2.) In July 2018, the unemployment rates for both young men (9.8 percent) and women (8.6 percent) were little changed from the summer before. The July 2018 rate for young Asians (8.4 percent) declined over the year, while the rates for young Whites (7.6 percent), Blacks (16.5 percent), and Hispanics (10.8 percent) showed little change over the year. (See table 2.) - 2 -
Technical Note The estimates in this release were obtained from the Current Population Survey (CPS), a national sample survey of about 60,000 eligible households conducted monthly for the Bureau of Labor Statistics (BLS) by the U.S. Census Bureau. The data in this release relate to the employment status of youth (16- to 24-year-olds) during the months of April-July. This period was selected as being the most representative time frame in which to measure the full summertime transition from school to work. July is the peak summer month of youth employment. Beginning in January of each year, data reflect revised population controls used in the CPS. Additional information about population controls is available on the BLS website at www.bls.gov/cps/documentation.htm#pop. Information in this release will be made available to sensory impaired individuals upon request. Voice phone: (202) 691-5200; Federal Relay Service: (800) 877-8339. Reliability of the estimates Statistics based on the CPS are subject to both sampling and nonsampling error. When a sample, rather than the entire population, is surveyed, there is a chance that the sample estimates may differ from the true population values they represent. The component of this difference that occurs because samples differ by chance is known as sampling error, and its variability is measured by the standard error of the estimate. There is about a 90-percent chance, or level of confidence, that an estimate based on a sample will differ by no more than 1.6 standard errors from the true population value because of sampling error. BLS analyses are generally conducted at the 90-percent level of confidence. The CPS data also are affected by nonsampling error. Nonsampling error can occur for many reasons, including the failure to sample a segment of the population, inability to obtain information for all respondents in the sample, inability or unwillingness of respondents to provide correct information, and errors made in the collection or processing of the data. More information on the reliability of data from the CPS and estimating standard errors is available online at www.bls.gov/cps/documentation.htm#reliability. Definitions The principal definitions used in this release are described briefly below. Employed. Employed persons are all those who, during the survey reference week (which is generally the week including the 12th day of the month), (a) did any work at all as paid employees; (b) worked in their own business, profession, or on their own farm; (c) worked 15 hours or more as unpaid workers in a family member’s business. Persons who were temporarily absent from their jobs because of illness, bad weather, vacation, labor dispute, or another reason also are counted as employed. Unemployed. The unemployed are those who had no employment during the reference week, were available for work at that time, and had made specific efforts to find employment sometime during the 4-week period ending with the reference week. Persons who were waiting to be recalled to a job from which they had been laid off need not have been looking for work to be classified as unemployed. Looking for full-time work refers to 35 hours or more per week; part-time work refers to fewer than 35 hours per week. Civilian labor force. This group comprises all persons classified as employed or unemployed. Unemployment rate. The unemployment rate is the number of unemployed persons as a percent of the civilian labor force. Labor force participation rate. The labor force participation rate is the labor force as a percent of the population. Employment-population ratio. The employmentpopulation ratio is the employed as a percent of the population. Not in the labor force. Included in this group are all persons in the civilian noninstitutional population who are neither employed nor unemployed. Industry and class of worker. This information applies to the job held during the reference week. Persons with two or more jobs are classified in the job at which they worked the greatest number of hours. Persons are classified using the 2012 Census industry classification system. The class-ofworker breakdown assigns workers to the following categories: Private and government wage and salary workers, unincorporated self-employed workers, and unpaid family workers. Wage and salary workers. Included in this group are persons who receive wages, salary, commissions, tips, or pay in kind from a private employer or from a government entity. Self-employed workers. Included in this group are those who work for profit or fees in their own unincorporated business, profession, trade, or farm. Only unincorporated self-employed are included in the self-employed category. Self-employed persons whose businesses are incorporated are included with private wage and salary workers. Unpaid family workers. Included in this group are persons working without pay for 15 hours a week or more on a farm or in a business operated by a family member in their household.
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The e-Advocate Monthly …a Compend
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The Advocacy Foundation, Inc. Helpi
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The Transformative Justice Project
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1. The national average cost to tax
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The Advocacy Foundation, Inc. Helpi
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Biblical Authority ______ Leviticus
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Table of Contents …a compilation
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I. Introduction The Unemployment Ra
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On the other hand, cyclical unemplo
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Marxian Theory of Unemployment It i
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To the extent that hidden unemploym
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to the way the statistics are colle
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calculation of unemployment by diff
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The Bureau of Labor Statistics also
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When comparing unemployment rates b
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In the United States, there have be
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Unemployment Ratio The unemployment
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Another cost for the unemployed is
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of millions and the destruction of
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Decline In Work Hours As a result o
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According to classical economic the
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A description of the miserable livi
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20% in some parts of the United Kin
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Male Unemployment Male Unemployment
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II. The Effective (True) Unemployme
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U.S. Unemployment Forecast 2017 Sug
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not causation but, if traditionally
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So, what has really changed? Yes, t
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numbers, more dramatic solutions ar
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As I look back and reflect on my ex
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III. Involuntary Unemployment Invol
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Other economists do not believe tha
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IV. Underemployment Underemployment
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surveys show that skill-based under
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In some countries, labour laws or p
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V. Discouraged Workers In economics
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European Union Unemployment statist
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VI. The Working Poor The Working Po
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Measuring Working Poverty Absolute
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nearly 40% -- or more than $60,000
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affects a very wide range of people
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Welfare State Generosity Cross-nati
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available education continues the v
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mechanisms that allow them to maint
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Education And Training Some argue t
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VII. Wage Slavery Wage Slavery is a
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might 'come and go' as he pleased,
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5. Similarities were blurred by the
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development of economic theory. Ada
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Psychological Effects According to
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have a range of available alternati
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Modern political theory stresses Ma
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Others like Murray Rothbard allow f
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VIII. The Employment-to-Population
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Employment-To-Population Ratio in T
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Page 117 and 118: Notes _____________________________
Page 119 and 120: Attachment A The Unemployment Situa
Page 121 and 122: Household Survey Data The unemploym
Page 123 and 124: HOUSEHOLD DATA Summary table A. Hou
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Page 127 and 128: Technical Note This news release pr
Page 129 and 130: estimation in order to offset the m
Page 131 and 132: HOUSEHOLD DATA Table A-2. Employmen
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Page 171 and 172: URBAN INSTITUTE 2100 M Street, NW W
Page 173 and 174: Contents Challenges to Measuring Ef
Page 175 and 176: negative effects in many areas, sta
Page 177 and 178: long-term unemployed workers were a
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Page 181 and 182: human capital of the individual. Lo
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Page 185 and 186: high crime. As long-term unemployme
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Page 201 and 202: The e-Advocate Monthly Review 2018
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Hidden Unemployment

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