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booly@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

When the definition of unemployed is changed to exclude the majority of working age people without jobs then it is no longer a helpful statistic.

U-3 has used the same definition of unemployed since 1940.

Whatever metric you want to use, you should look at that number and how it changes over time, to get a sense of trend lines. LISEP says the “true” unemployment rate is currently 24.3% in May 2025, which is basically the lowest it’s ever been.

Since the metric was created in 1994, the first time that it dipped below 25% was briefly in the late 2010’s, right before COVID, and then has been under 25% since September 2021.

Under this alternative metric of unemployment, the unemployment rate is currently one of the lowest in history.

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