An illustration as to why so many Americans still have an uneasy feeling about the U.S. economy

1. Possible Actual U.S. Unemployment Rate – 1970 through 2015
Lawrence D. Morriss, Jr. March 19, 2016
Page 1 of 2
The below graph could be an illustration as to why so many Americans still have an uneasy feeling about the U.S. economy. The
graph incorporates the Bureau of Labor Statistics’ publication of the number of individuals not in the labor force and the Social
Security Administration’s number of retired individuals. The graph shows, among other things, that post 2008 period of U.S.
unemployment remains much higher than the similar pre 2008 period of U.S. unemployment.
21.50%
23.00%
24.50%
26.00%
27.50%
29.00%
30.50%
32.00%
33.50%
35.00%
36.50%
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Rates
YEARS
Possible Annual U.S. Unemployment Rates 1970 Through 2015
Possible Unemployment Rate Lawrence D. Morriss, Jr. March 19, 2016
The “official” explanations for excluding the number of individuals not in the labor force from the U.S. unemployment rate may be
plausible. But one of the most often explanations for the significant growth of the number of individuals not in the labor force is the
retirement of the baby boomers.
Okay, so the graph above subtracts the number of retired individuals from the number of individuals not in the labor force, which
results in net individuals not in the labor force. The number of retired individuals is from the Social Security Administration’s
U.S. Presidential
Election of 2008

2. Possible Actual U.S. Unemployment Rate – 1970 through 2015
Lawrence D. Morriss, Jr. March 19, 2016
Page 2 of 2
publication of the number of retired individuals receiving benefits.1
I added the net individuals not in the labor force to the number of
unemployed individuals that is also published by the Bureau of Labor Statistics,2
which resulted in the number of possible
unemployed individuals.
The possible unemployment rate is the result of the number of possible unemployed individuals divided by the sum of the number of
possible unemployed individuals and the total number of employed individuals. The total of employed individuals is also published by
the Bureau of Labor Statistics.3
1
Social Security Administration: Number of beneficiaries receiving benefits on December 31, 1970-2015
(https://www.ssa.gov/oact/STATS/OASDIbenies.html).
2
Bureau of Labor Statistics Household Data Annual Averages 1 - Employment Status of Civilian Non-institutional 1970 through 2015.
3
Ibid.