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hirako2000 4 hours ago

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.

reddozen 3 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 an hour 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%.