Are You Getting Fooled By The Unemployment Rate Illusion?

An acceptable level of unemployment means that the government economist to whom it is acceptable still has a job the labor market is in bad shape

Post Covid, the US unemployment rate has fallen from a high of 14.8% to 6.3%.That’s a good thing right?

More people employed is after all an indication of, if not economic strength, then at the very least, some economic growth. And who doesn’t like economic growth?

But…what if a fall in the unemployment rate doesn’t actually mean that there are more people who are employed?

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