|Submited on :||Tue, 9th of Oct 2018 - 08:21:42 AM|
|Post ID :||9mke15|
|Post Name :||t3_9mke15|
|Post Type :||link|
|Subreddit Type :||public|
|Subreddit ID :||t5_2tk95|
Thank you for your Original Content, /u/Lathiyades!
Here is some important information about this post:
The image I linked to are the bits and pieces I found interesting in this data. I posted the full size of these three here: https://imgur.com/a/msHTuTC
I collected the information from the Bureau of Labor Statistics using their JSON API. The code I used to do this is here: https://github.com/Knuckl3head/bls-grabber I then coalesced and tabulated those results using Excel and exported them with Powerpoint
I started this project when I was discussing the recently very low unemployment rates with a friend, and he remarked that "Well, unemployment is low because people have stopped looking and they're not counted." So I decided to tabulate the data of it and find out what's going on.
A few interesting things, first all, the least unemployed age group is 25-49, after that, it seems people start retiring, resulting in the 93% average NiLF rate for 75+ individuals.
I also noticed how the employment of teenagers and young adults was tied to the summer/winter cycle of school. If you look at the bottom figure (which I produced to exaggerate the effect into something more visible), NiLF rates drop during the summer period for these two age groups, but not others.
I also noticed the weird increase of NiLF for 16-19 individuals between 2000 and 2010. This would correlate to the generation born in 1981-1994. Any ideas what happened? I want to say "Helicopter Parenting" but that would be a rather politically charged statement, so decide for yourself :-)
Otherwise, the NiLF rate is pretty stable when controlled for population, meaning unemployment is, in fact, at an all-time low.
This is really interesting data. It looks like the colors might be swapped in the lower-left figure, which says in the legend that 20-24 is orange. It seems like 20-24 is actually the blue line.
One more comment is that the upper-left figure is hard to read, because the color mapping is not sequential (e.g., reddish for young to bluish for old or something). It might help to annotate each line directly with the age range so you don't have to remember all those colors.
Top left is really interesting. We see teens working less in the past 20 years and “young seniors” working more.