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MotosyOlas t1_je78f44 wrote

Reply to comment by Walla_Walla_26 in Stagflation 2023: The Looming Economic Nightmare You Can't Afford to Ignore by Wega58

Unemployment calculations were changed in 2008 or 09 to allow part time/temp/short term work to count as "employed" removing you from the unemployment #'s.

Numbers haven't been true since then

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Walla_Walla_26 t1_je7avkh wrote

I know they changed the formula somehow. You’re saying the number is higher than what is presented right?

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MotosyOlas t1_je7ri86 wrote

Much higher. I'll dig up the info for you. There were multiple ways the calculations changed.

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MicroBadger_ t1_je7pn8b wrote

Not in the U6 they aren't. And that number is low as shit.

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samnater t1_je7rqnw wrote

U6?

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MicroBadger_ t1_je7sw30 wrote

Unemployment number has several categories. U3 is what's commonly reported in the news and looks at people who are unemployed and looked in the past 4 weeks. U6 doesn't include that time restriction, includes people who've given up looking either cause they are discouraged or have left the work force but plan to come back at a later date, and includes part time workers who want full time work.

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