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Unemployment in the US Has always been a flawed metric in recent history. BLS data has been manipulated and methodology changed to always paint the rosiest pic
by than3 4y ago
Unemployment in the US Has always been a flawed metric in recent history.
BLS data has been manipulated and methodology changed to always paint the rosiest picture for policymakers.
The shadowstats website has continued with the older more accurate methodology where it shows a more realistic view, when it can.
US data for unemployment has been fundamentally flawed for decades.
In essence, the methodology stops counting people looking for work when they have been unable to find work after some amount of time. If you aren't actively looking for work or recently had work, you aren't counted. Actively looking doesn't mean interviews, it means being registered in a work program, which has a large number of requirements and competition.
The resolution foundation has several good analysis of multiple countries that show this trend.
If you want more specific details than that, I'd suggest "The Pinch" by Willett. It has many credible references, supporting this at the back (too many to list).
Where other similarly themed books like "The Theft of a Decade", offer no more than opinion, this covers what you are looking for with gratuitous references.
- dragonwriter 4y agoYou…didn’t answer the question. By what measure is it true “young people are having such a hard time finding gainful employment these days?”
- than3 4y agoYou clearly either didn't read, or didn't comprehend what I wrote if you think that. There is nothing I can do about that.