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The press almost always uses U-3, which is the government's official unemployment rate. There's nothing vague about it. BLS is clear about what each category i
by alistairSH 4y ago
The press almost always uses U-3, which is the government's official unemployment rate. There's nothing vague about it. BLS is clear about what each category includes. The only confusion is caused by a certain subpopulation who likes to toss out U-6 as some sort of "gotcha!" whenever unemployment makes the news.
- macinjosh 4y agoNext time you are on the street ask some random passersby what the difference between the U-3 unemployment rate and the U-6 unemployment rate. You're gonna get a bunch of blank stares unless you are on the campus of an economics college.
- alistairSH 4y agoRandom passersby is a really low bar. Many won't be able to place nations on a map or name the Speaker of the House either. Which is why throwing out U-6 as a "gotcha!" is so dangerous - somebody who doesn't know better might believe the government is trying to hide something.