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Why do you think the BLS goes to the trouble of calculating and publishing U6? Because they want it to be ignored? The people in power always use the most opti
by jjoonathan 6y ago
Why do you think the BLS goes to the trouble of calculating and publishing U6? Because they want it to be ignored?
The people in power always use the most optimistic measures and the people who want power always use the most pessimistic measures. I'd personally argue the more pessimistic measures are closer to reality, as would many others. BLS found a way to serve us and the people in power, simultaneously, without getting themselves replaced. They didn't just do an ultra-important, thankless job, they also found a way to square a political circle in order to do it. I have nothing but respect for them.
- omgwtfbyobbq 6y agoI meant the federal government should use U-6 because it's closer to what most people thing of as unemployment.