It provides no more accurate of a view IMO, as it lumps together both groups of (a) people who don’t have jobs and need them and (b) people who don’t have jobs

It provides no more accurate of a view IMO, as it lumps together both groups of (a) people who don’t have jobs and need them and (b) people who don’t have jobs and don’t need them. I prefer looking at that figure more than “unemployment” rate, but it overcorrects on the pessimistic side. Maybe that’s why some of us like it.