The Real Unemployment Rate Is 21%… And Heading Higher
July 21st, 2020Via: Of Two Minds:
It is somewhat less than reassuring that the “official” unemployment rate of around 12% is roughly half of the “real-world” unemployment rate. As always in the wonderful world of statistics, especially politically potent ones, it depends on what you measure, what you don’t measure / act as if it doesn’t exist, and how you measure what you do measure.
Everyone who digs beneath the headline numbers of employment / unemployment soon discovers a number of jarring anomalies in what the media presents as “factual statistics.”
Posted in Economy | Top Of Page
I have my own way of figuring the (somewhat close to) real unemployment figure: I take the U6 unemployment number and then add ten percent (rounded off) to it. Based on this system, my number for the month of June is 20%.
https://www.macrotrends.net/1377/u6-unemployment-rate