> People (including journalists, politicians... high stakes stuff) assume that unemployment captures most unemployment.
No, this is intentional deception. The party out of power talks about "real" inflation rates and "real" unemployment rates, and the party in power touts the official numbers.
The best number to go by for unemployment has always been the prime age employment (not unemployment) rate, and all honest discussions of the current state of employment start with it.
No, this is intentional deception. The party out of power talks about "real" inflation rates and "real" unemployment rates, and the party in power touts the official numbers.
The best number to go by for unemployment has always been the prime age employment (not unemployment) rate, and all honest discussions of the current state of employment start with it.
https://fred.stlouisfed.org/series/LNS12300060