4 ms·

> [...] the unemployment rate worldwide is low. It is under 5% in the US [...] I'm not sure how this is calculated. Do people employed part-time count as emplo

• heartbreak 10y ago
  How the Bureau of Labor Statistics calculates the US unemployment rate: https://www.bls.gov/cps/cps_htgm.htm https://www.bls.gov/cps/cps_htgm.htm
• zdragnar 10y ago
  In the US, the official unemployment rate cited is the U-3 rate, which is exclusively limited to those currently seeking a job, with no employment status at all. Partial employment (such as part-time) due to economic circumstances, as well as those who are within the employable age range (18-60something) but are not employed nor seeking a new job due to economic circumstances (i.e. gave up) are covered by the U-6 measurement, which is substantially higher at 9.8%. See here: https://www.bls.gov/lau/stalt.htm https://www.bls.gov/lau/stalt.htm That page also has links to historical measurements back to 2003, and you can probably find further back (though I'm not sure if there are older resources that also include the state-by-state breakdown).
• nommm-nommm 10y ago
  Unemployment has the potential to be very misleading. It is a count of people who are actively looking for work but not yet employed. It doesn't count people who have dropped out of the workforce but would prefer to be working or people who are underemployed or working less hours than they'd prefer, for example.