Unemployment is one of the most cooked statistics by the federal government; they have several so they can choose the most ideal to report. The real issue is that unemployment also accounts for people who left the market, aka disabled, left-behind, or those with long term disability due to COVID. So unemployment looks great when you remove all the people deemed not fit for capital to exploit further.
Its difficult to find a good measurement for a country’s success. See Campbell’s Law. But yeah, unemployment has been a bad metric from the start. They just keep using it because people don’t know it’s a bad metric.
Unemployment is one of the most cooked statistics by the federal government; they have several so they can choose the most ideal to report. The real issue is that unemployment also accounts for people who left the market, aka disabled, left-behind, or those with long term disability due to COVID. So unemployment looks great when you remove all the people deemed not fit for capital to exploit further.
Its difficult to find a good measurement for a country’s success. See Campbell’s Law. But yeah, unemployment has been a bad metric from the start. They just keep using it because people don’t know it’s a bad metric.