It boggles my mind that people can look at the "unemployment rate" and go "Ahh yes, that's a legitimate statistic✅ ".
See below. If 63.4% are employed. Then by grade 2 math, 36.6% are not employed, or UNemployed. No matter what the gov says.
Discussion
They also have something that's called "Underemployment" which likely is in-between these two measures.
Yes and discouraged workers. IE. Unemployed people, who haven't looked for a job in 4 weeks.
"We don't need to include those people in UR. Naaa."
Just like how they conveniently omit asset prices from CPI to pad the stat.
They LITERALLY put "employment rate" in the same chart.
Yet people will still quote the gov stated unemployment rate of 4.5%. Knowing full well that the sum of both are 30% from adding up to 100%.
Even with headmath, you have to look at that and go. WTF man?
Milgram's experiment in the flesh.