I don't see the revelation, it still appears we're near historical lows and it's not spiking. It's not like there is any divergence between before and now. It's not bad to know what this rate is but it's also not revealing a lie. If you apply their stat methodologies to other G-7, you get similar results.

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hirako2000 4 hours ago | parent | next [-]

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.

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reddozen 4 hours ago | parent [-]

There 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.

"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.

	▲	johnnyanmac 2 hours ago \| parent [-]
		> If they compared "TRU" to it's analogous match U-6 the graph would be less striking as it's a 1:1 match. What do you mean? Outside of the COVID spike, I don't think U-6 ever comes anywhere close to 20%, which is lower than the lowest parameter in this TRU graph. IIRC, current U6 unemployment is roughly 8.7%.

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gehwartzen 5 hours ago | parent | prev [-]

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.

	▲	Jblx2 5 hours ago \| parent \| next [-]
		If you do this with PPP with every other country on earth, which ones look the best?
	▲	Helloworldboy 5 hours ago \| parent \| prev [-]
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