The unemployment rate is still over 8% if you count those who have dropped off because they haven't found work in 6 or more months.
This measure was well under 7% at our last period of nearly full employment.
This measure was well under 7% at our last period of nearly full employment.
Looking at specific dates, raw U-6 is .9 less than a year ago. Seasonally adjusted U-6 is a full point less than a year ago.
That said, OP's complaint still applies for LFPR or NEET percentage, which as far as I know are moving opposite U3-6?
I agree, though, the U numbers are basically the definition of "fake news" from the standpoint of what you mentioned.
Before that it got below 8% in the late 1990s because of an extreme stock market bubble, which was fleeting to say the least.
Not very good comparisons frankly.
Maybe these people who haven't found work just don't want to make $15 an hr working as a store clerk.
I'm probably counted different now that my six months of unemployment have run out. I didn't necessarily 'turn down' work but I also didn't apply for jobs that would have me driving over an hour one way for $12-15 for what is supposed to be a somewhat experienced position (IT work w/ a lot of requirements). This is in LA so shit's already experience.
Right now, I could've been working two weeks ago if a recruiter had had their shit together (interviewed and got job four weeks ago; actual paperwork took two weeks; when I could've started, they found out their contract w/ company had expired).
It's very frustrating out here even having done the things the media bullhorn has said to do - work in tech, work in an office, etc etc.
https://en.wikipedia.org/wiki/Unemployment#United_States_Bur...