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It depends on what I’m trying to count. If someone is working age and on SSI, then they aren’t capable of working. The U3 number is trying to measure how much
by prepend 6y ago
It depends on what I’m trying to count. If someone is working age and on SSI, then they aren’t capable of working.
The U3 number is trying to measure how much of the total workforce is able to find work. If I can’t or don’t want to work, I’m not part of the workforce.
It’s not that unemployment rate is a measure of “desire ability” (whatever that means) but as a measure of how much labor is available and can work. It’s a useful economic measure, but not an absolute one.