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The different rates are all highly correlated, though, so it hardly even makes a difference when you are looking at a trend over time.
by TheCoelacanth 4y ago
The different rates are all highly correlated, though, so it hardly even makes a difference when you are looking at a trend over time.
- mywittyname 4y agoRight, most of it is just report the U-3 rate because we've always reported the U-3 rate. You can infer the U-x rate by multiplying the U-3 by some fixed scaling factor (i.e., x1.9 for U-6). I feel like people love to call the the U-6 the "real" unemployment rate because it looks far worse than it actually is. But, in reality it doesn't matter if your preffered figure feel from 10% to 6% or from 17% to 10% over a time period.