No, that’s not what happened. See my reply. It’s true that the unemployment rate only factors in people who are actively working or looking for work: if you don’t look for work for a certain number of months, you aren’t factored in the ‘labor market’ anymore, so children and retirees aren’t included, but also stay-at-home parents, people playing games in their parents’ basement, people who took a few years off to travel, etc.
But that number hasn’t changed dramatically in the past few years (well, except of course for a sharp rise in 2020 followed by a quick fall in 2021…). It has risen in the past few decades, but there are reasons for that (boomers aging out of the labor force, for example).
There’s not some crazy new secret unemployment crisis.
No, that’s not what happened. See my reply. It’s true that the unemployment rate only factors in people who are actively working or looking for work: if you don’t look for work for a certain number of months, you aren’t factored in the ‘labor market’ anymore, so children and retirees aren’t included, but also stay-at-home parents, people playing games in their parents’ basement, people who took a few years off to travel, etc.
But that number hasn’t changed dramatically in the past few years (well, except of course for a sharp rise in 2020 followed by a quick fall in 2021…). It has risen in the past few decades, but there are reasons for that (boomers aging out of the labor force, for example).
There’s not some crazy new secret unemployment crisis.
Ah-ha. So basically people are working, they just aren’t getting paid enough. Is that right?
How do you figure?
I’m referring to the fact that so many people seem to have trouble just getting by and making a decent living. Wondering what the cause is, I suppose.