It is low now, but also (in the US) the last few administrations played games with how they defined it, mainly by excluding people who had basically given up on finding employment.
That’s nothing new. That’s how it’s always been defined. I’m not unemployed if I’m not looking for work.
Otherwise housewives would be unemployed, disabled people, pensioners, etc.
The one weird part is people transitioning just are counted towards the unemployed numbers even though they have a job coming.
I think he means 40 to 50% higher than now. It’s historically quite low at the moment.
It is low now, but also (in the US) the last few administrations played games with how they defined it, mainly by excluding people who had basically given up on finding employment.
That’s nothing new. That’s how it’s always been defined. I’m not unemployed if I’m not looking for work. Otherwise housewives would be unemployed, disabled people, pensioners, etc.
The one weird part is people transitioning just are counted towards the unemployed numbers even though they have a job coming.
They expanded the definition 5-10 years ago at various times, which resulted in a lower reported rate.
You have a cite for that?
According to this it hasn’t changed since 1945 when it was defined.
https://www.pewresearch.org/short-reads/2017/03/07/employment-vs-unemployment-different-stories-from-the-jobs-numbers/#:~:text=Since 1945%2C the official definition,in the past four weeks.
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