Upon inception it was set at $0.25. It is now $7.25.

  • trailing9@lemmy.ml
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    1 year ago

    Right. This is important to remember. I think my question is still valid because it’s about the real rate and not the published figure.

    • medgremlin@lemmy.sdf.org
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      1 year ago

      Except that the published figure is what gets used in policy and calculations. The real rate is largely ignored and the numbers are heavily skewed by ever-changing definitions and parameters making the “unemployment rate” a nearly useless metric. We need to run our country based on keeping people out of functional poverty, not based on keeping profits up.

      • trailing9@lemmy.ml
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        1 year ago

        Policy and calculations don’t matter if there is low unemployment. It’s minimum wage that’s gamed. Why fight that lost battle?

        • medgremlin@lemmy.sdf.org
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          1 year ago

          I’m saying that the unemployment rate is artificially low as well as being a stupid metric to use, but unfortunately, it’s the metric that powerful entities use to make decisions about manipulating the economy at large.

          • trailing9@lemmy.ml
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            1 year ago

            There is the published figure and there is the actual number of unemployed people.

            You rightfully point out that the figure is manipulated. I am talking about the actually unemployed people.