Those unemployment statistics often lump in people who can’t work (disability) or aren’t looking for work (like a stay at home parent/caregiver). It’s rarely just people actively looking for work and not finding it.
You really have to dig into how the percentage is calculated to get any real value out of it.
The ‘functional unemployment rate’ that reaches 24% includes ‘those involuntarily working part time for povery wages less than $26,000 annually before taxes’ according to CBS news
The disability rate and disenfranchisement rates are different statistics. Just straight unemployment period amongst those who can work and/or are lloking is the lower single digit figure, generally around 4-7%
Those unemployment statistics often lump in people who can’t work (disability) or aren’t looking for work (like a stay at home parent/caregiver). It’s rarely just people actively looking for work and not finding it.
You really have to dig into how the percentage is calculated to get any real value out of it.
The ‘functional unemployment rate’ that reaches 24% includes ‘those involuntarily working part time for povery wages less than $26,000 annually before taxes’ according to CBS news
https://www.cbsnews.com/news/functional-unemployment-us-labor-market-analysis/
The disability rate and disenfranchisement rates are different statistics. Just straight unemployment period amongst those who can work and/or are lloking is the lower single digit figure, generally around 4-7%
Thank you for doing the research. I wonder how they determine involuntary part time employment. I guess using unemployment benefits data?