At 11.3% unemployed in December 2017, Hamilton County in the Adirondack Park has the state’s highest unemployment rate.🤔
That sounds really bad, however much employment in Hamilton County is seasonal in nature, with unemployment being only 3.9% in July and 3.8% in August. 🏕⛰🚵🏊
There are only 2,300 people in the Hamilton County labor force, with 300 unemployed.
"The first two BLS measures of the unemployment rate, U-1 and U-2, are very narrow. The U-3 unemployment rate is the officially recognized rate of unemployment, measuring the number of unemployed people as a percentage of the labor force. Unless otherwise stated, all generic references to the employment rate in government communications and in the media refer to U-3 unemployment. The U-4 unemployment rate is similar to the U-3 rate, but it adds in a category of people who are technically outside the labor force, known as discouraged workers. Discouraged workers desire work and have actively looked for work in the past 12 months, but they have not looked in the last four weeks because they don't believe there is work available for them due to economic conditions or other reasons. The U-5 unemployment rate includes everyone in the U-4 rate, in addition to any people who are available to work, willing to work and not discouraged from looking for work, but who have not looked for work in the prior four weeks for some other reason. The U-6 unemployment rate includes everyone in the U-5 rate plus any people who work part time because full-time work is not available due to economic conditions."
"A new NPR/Marist poll finds that 1 in 5 jobs in America is made up of workers under contract. Within a decade, contractors and freelancers could make up half of the American workforce. Workers across all industries and at all professional levels will be touched by the movement toward independent work — one without the constraints, or benefits, of full-time employment. Policymakers are just starting to talk about the implications."
“Wages are a function of productivity and inflation,” said Joseph Brusuelas, chief economist of the business consulting firm RSM. “Firms will simply not increase wages that are not aligned with productivity and prices.”
The bulk of the unemployed in America reside in a few urban counties, the same place where the largest number of people are located. While many rural areas have higher unemployment rates, the bulk of people live in cities, and that's where the bulk of the unemployed reside.
Data Source: US Department of Labor, Local Area Unemployment Statistics. 2016 Unemployment Rate. https://www.bls.gov/lau/
"Don’t get me wrong. The USW supports job creation. But the union believes clean air pays; clear water provides work. Engineers design smokestack scrubbers, skilled mechanics construct them and still other workers install them. Additional workers install insulation and solar panels. Untold thousands labor to make the steel and other parts for wind turbine blades, towers and nacelles, fabricate the structures and erect them. Withdrawing from the Paris Accord diminishes these jobs and dispatches the innovators and manufacturers of clean technologies overseas where countries that continue to participate in the climate change agreement will nurture and grow them."
"Full employment, in macroeconomics, is the level of employment rates where there is no cyclical or deficient-demand unemployment.[1] It is defined by the majority of mainstream economists as being an acceptable level of unemployment somewhere above 0%. The discrepancy from 0% arises due to non-cyclical types of unemployment, such as frictional unemployment (there will always be people who have quit or have lost a seasonal job and are in the process of getting a new job) and structural unemployment (mismatch between worker skills and job requirements). Unemployment above 0% is seen as necessary to control inflation in capitalist economies, to keep inflation from accelerating, i.e., from rising from year to year. This view is based on a theory centering on the concept of the Non-Accelerating Inflation Rate of Unemployment (NAIRU); in the current era, the majority of mainstream economists mean NAIRU when speaking of "full" employment. The NAIRU has also been described by Milton Friedman, among others, as the "natural" rate of unemployment. Having many names, it has also been called the structural unemployment rate."