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Thank you for the informative comment. Through the years I've seen various far fetched explainers about U1...U6 supposedly obscuring the real state of the econo
by dexen 7y ago
Thank you for the informative comment. Through the years I've seen various far fetched explainers about U1...U6 supposedly obscuring the real state of the economy. You made it clear for me, as practical & pragmatic measures.
- ChrisLomont 7y agoYeah, unemployment numbers, like inflation numbers, draws a whole host of crazy ideas, but all can be debunked with a little careful research on the why of things, and by checking some external consequences if these numbers are a lie. If you want to see something neat, here is a graph from FRED of U1-U6, showing how well correlated they are. You can download the datasets (I have) and fiddle with them. At the end of the day, U3 is a really good number because it's used internationally and historically, allowing comparisons. The others are nice too, if for nothing else than to counter the people that dislike the definition of U3 and think it's a scam. It's all tracked for all to see. https://fredblog.stlouisfed.org/2015/05/the-many-flavors-of-unemployment/?utm_source=series_page&utm_medium=related_content&utm_term=related_resources&utm_campaign=fredblog https://fredblog.stlouisfed.org/2015/05/the-many-flavors-of-...