3 ms·

The 'official' unemployment rate doesn't include people who aren't actively looking within X time. I would not trust the government to accurately report on a st

• lotsofpulp 3y ago
  There is an official unemployment rate that includes people who are not actively looking within X time. See U-6 unemployment rate: https://www.macrotrends.net/1377/u6-unemployment-rate https://www.macrotrends.net/1377/u6-unemployment-rate https://www.bls.gov/cps/definitions.htm https://www.bls.gov/cps/definitions.htm >U-6 is the broadest measure of labor underutilization. In addition to the total number of unemployed and all people marginally attached to the labor force, U-6 includes people at work part time for economic reasons (also called involuntary part-time workers) and is expressed as a percentage of the civilian labor force plus the marginally attached. >U-6 is calculated as: ( (Total Unemployed + Marginally Attached to the Labor Force + People at Work Part Time for Economic Reasons) ÷ (Labor Force + Marginally Attached to the Labor Force) ) x 100
  • WarOnPrivacy 3y ago
    I've never run across that before. I think a lot about the 20 percentage points who aren't reflected in the official BOLS' rate. Specifically about the ones who would absolutely work but are daunted by their significant barriers to job entry. I'm hopeful these charts will reflect at least some of them.
    • lotsofpulp 3y ago
      There is always labor force participation rate if you want all encompassing: https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm https://www.bls.gov/charts/employment-situation/civilian-lab...