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Comparison of unemployment rate across the US and the EU in January 2023
- WarOnPrivacy 4y agoIn the US, Labor's unemployment figure is generally about 20 percentage points below the actual number (eg:5% unemployment =~25% actually unemployed)[1]. In the EU, do countries report actual unemployment or do EU countries adjust their numbers (downward) like the US? [1] Take the total number of US 16-64yo and subtract the sum of FT & PT workers. This gives us the actual number of unemployed (16-64). That number is consistently a bit more than 20 percentage points above Bureau of Labor Statistics' official unemployment figure.