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Unemployment literally only tracks those interacting with State unemployment insurance. People out of work who aren't interfacing with said established monitori
by salawat 2y ago
Unemployment literally only tracks those interacting with State unemployment insurance. People out of work who aren't interfacing with said established monitoring may as well not exist in the same manner as engine & cockpit shot planes in WWII.
In short, citing unemployment is falling for the mother of all survivorship biases. If you're more interested in fake paperwork derived numbers than the actual world though, you do you then.
- jeffbee 2y agoThat is not correct. You should close the tab on that shadowstats bullshit. BLS employment measures are calculated from the Current Population Survey and the Current Employment Statistics. CPS is a bimonthly survey of a rolling population of 60000 households. CES is a monthly survey of over 100000 businesses.
- readthenotes1 2y ago"Unemployment literally only tracks those interacting with State unemployment insurance. " They don't do it that way. I don't know if labor force participation measurements are more or less accurate from relying on survey data tho. https://www.bls.gov/cps/cps_htgm.htm https://www.bls.gov/cps/cps_htgm.htm