03-10-2017, 07:53 PM
(03-10-2017, 06:57 PM)Kinser79 Wrote:(03-10-2017, 03:19 PM)SomeGuy Wrote: 70% is actually pretty good. With retirees, stay-at-home parents, and students, that's fairly reasonable. It's higher than the national rate has ever been (since WWII at least)
Dude..Students and retirees aren't counted in the workforce participation rate. Neither are parents who stay at home by choice. The Labor department counts those who are working, or looking for work and includes those who aren't drawing unemployment insurance. What this means is that 3 out of every 10 Minnesotans who want a job don't have one.
Florida's current rate is somewhere in the 67% region which while higher than the national average is lower than it should be because tourism is the third largest industry. People up north who don't have jobs don't go to the beach or Disney on vacation.
No, you're mixing up the U3 unemployment rate with the civilian labor force participation rate. The one doesn't count all the people you say, the other takes the total employed + "unemployed" (U3) population and divides it by the total population over the age of 16 (minus, I think, people in prison, the military, a couple of other categories, etc.).