The revelation is that the official unemployment rate is so skewed it is meaningless, even misleading since high unemployment is a serious social issue thus should be a high priority political concern.
replyThere is no revelation. The authors are intentionally misleading you by comparing 2 different metrics to pretend their formula is meaningfully different than what BLS provides.
reply"Headline" unemployment rate is U-3 unemployment. If they compared "TRU" to it's analogous match U-6 the graph would be less striking as it's a 1:1 match.
Just because the economic system we have has always been shitty for a high percentage of our neighbors doesn’t mean it always has to be that way. Other top economic countries being similar doesn’t excuse it.
replyIf you do this with PPP with every other country on earth, which ones look the best?
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