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They use U3 because it makes them look better and since no one is using the more accurate U6, there is no pressure to stop cooking their books. Edit: only peop
by ab5tract 1mo ago
They use U3 because it makes them look better and since no one is using the more accurate U6, there is no pressure to stop cooking their books.
Edit: only people who are homeless for less than six months would be on unemployment benefits. That doesn’t sound like “plenty” to me.
- manlymuppet 1mo agoThey headline U3 because it's best at answering the question "who is looking for work but can't find it", but of course they use U6. It's literally one of the main metrics in the monthly unemployment report by the Buerau of Labor Statistics. The BLS created the U-# system, and was in fact the first to report a separate U6 metric. Eurostat, the Internation Labor Organization, OECD--what incentive do all these organizations have to globally misrepresent unemployment? Of course they measure and consider U6, but they choose to headline U3 instead not because it's prettier and they want to serve national propaganda interests, but because it's just more useful. C'mon man. I have to give up on this thread.
- ab5tract 1mo agoAre you seriously wondering why a government would want to underreport unemployment? Edit: it must just be a happy coincidence that U6 has never been lower than U3.