Biz student studying economics. Why do economists and the fed

>>1823438
Because that's the standard you dumb fuck. Otherwise every day you'd be having to explain what marginally attached and discouraged workers are to the general population who has an average nigger IQ of 85.

> why would economists use it
Because it's the OFFICIAL rate of the BLS you dumb fuck. They simply provide alternative measures.

Why don't they just use U-1? Or U-5? What a stupid fucking question.

>>1823461
t. professor

>>1823462
Next he's going to pull a Trump and say that 42% of the country is unemployed.

File: 1465524979053.gif (883KB, 250x250px) Image search: [Google]

883KB, 250x250px

>>1823461
>BECAUSE IT'S THE STANDARD *autistic screeching*

What a stupid fucking answer. WHY is it the standard?

>Otherwise every day you'd be having to explain what marginally attached and discouraged workers are to the general population who has an average nigger IQ of 85.

Bullshit. No one explains how the gov calculates the U3 to the layman currently. Why would they the U6?

>>1823469
I'm a libcuck. I think Trump and /pol/ are literal cancer, but thanks.

Aside from the U6 being a little more volatile, they both stay parallel. What I want to know is why one over the other?

File: 071413krugman1-jumbo.png (19KB, 480x378px) Image search: [Google]

19KB, 480x378px

>>1823438
Your studying the discipline of economics, so don't fall into the pitfalls of picking and choosing data and information that best proves your case.

U3 and U6 are just a collection of data used to guage the overall health of the economy. If I want the quickest way to asses the current labor market with making the least assumptions, I would use the U3.

The reason U3 is primarily used is due to its clarity. If someone is working two part-time jobs, and has been for years, but would jump at a full time position with better hours, would it be wise for me to count them as unemployed?

So it all comes down to what your interested in trying to address. The good news is that the U3 and U6 move in the same direction, so you wouldn't be incorrect in looking at one over the other.

>>1823477
www.bls.gov

You're so fucking stupid. Why don't you read how they calculate it and why ON THEIR FUCKING SITE they report U-3.

Jesus, I remember when I was in undergrad and I don't think I was as retarded as you.

>>1823488
Thanks. That nuance makes sense.

>>1823496
Where? You did the equivalent of linking wikipedia and yelling
>IT'S RIGHT THERE

Point out specifically where on the BLS it's stated WHY they use U3 over U6. Not definitions, but why.

>Why do we use the mile and not the kilometer?

>>1823502
idk, why do we?