The Unemployment Rate is SO Misleading
From The Bottom Violation
It’s the duration, stupid.
Even if it weren’t a lie, just look at that vertical line…
1. The “unemployment rate” is a lie. It’s much higher than the government wants you to believe.
2. Even if it weren’t a lie, a 10% unemployment rate does not mean that the job market is 90% hot. Employment is absolutely frozen.
3. Unemployment has a much more dangerous dimension: duration. Have a closer look at the chart above.
Related posts:
- The Natural Rate of Unemployment
- The Real Unemployment Rate is at Least 17.5%
- Unemployment Hits a 26 Year High
- January Jobless Rate Falls To 9.7%; Payrolls -20K
- The ‘Real’ Jobless Rate: 17.5% Of Workers Are Unemployed
