Labor participation, which is what most people think of when employment rates are brought up is just over 60, meaning the real unemployment rate is in the high 30s. More than a third of our employable population is jobless right now.
Reposted from
Adam in the PNW
Wages growing at 5 percent. Unemployment less than 5 percent for many years. Inflation almost at 2 percent. We measure the economy using numbers.
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https://fred.stlouisfed.org/series/LRAC64TTUSQ156S