Placer County's Real Unemployment Rate?
Roseville, CA -- Locking down accurate unemployment rates is no easy task. The unemployment rate depends on where you look and who you ask.
According to the California EDD, Placer County's Unemployment Rate dropped to 7.1%, a steep drop from the recessionary peak of 11.9% in March of 2010. The City of Lincoln shows a 13% unemployment rate, which is more on par with neighboring Yuba County than the rest of Placer County. The Rocklin and Roseville Unemployment Rate is reported at 5.1% and 7.2%, respectively.
Those numbers get local officials cheering, but are the figures accurate?
Yes and No
- Yes, based on the select data inputs the EDD uses, they are accurate.
- No, if you utilize data points that are considered more inclusive.
The California EDD calculates civilian unemployment based on individuals who were not working but were able, available, and actively looking for work.
The U-6 Unemployment Rate, considered by many to be more reliable and alternative indicator is defined as total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force.
The U-6 Unemployment rate for California is closer to 18% while the California EDD numbers show 8.5% unemployment.
The unemployment rate is simply pegged to different definitions and Placer County's actual unemployment rate is not always what is appears.
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