“The Hidden Jobless Disaster”

We all know statistics can lie, and yet we all believe in them anyway…

From The Hidden Jobless Disaster:

…the headline unemployment rate, what the Bureau of Labor Statistics calls “U3,” uses as its numerator the number of individuals who are actively seeking work but do not have jobs. There is another highly relevant measure that captures what is going on in the economy. “U6” counts those marginally attached to the workforce—including the unemployed who dropped out of the labor market and are not actively seeking work because they are discouraged, as well as those working part time because they cannot find full-time work.

bureau of labor statistics

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