Original URL where the cowards have changed the title now: https://www.politico.com/news/magazine/2025/02/11/democrats-tricked-strong-economy-00203464
I don’t believe those who went into this past election taking pride in the unemployment numbers understood that the near-record low unemployment figures — the figure was a mere 4.2 percent in November — counted homeless people doing occasional work as “employed.” But the implications are powerful. If you filter the statistic to include as unemployed people who can’t find anything but part-time work or who make a poverty wage (roughly $25,000), the percentage is actually 23.7 percent. In other words, nearly one of every four workers is functionally unemployed in America today — hardly something to celebrate.
Any fucking questions
I remember reading about the “true unemployment rate” a while back, I always go there to check the rate instead of that 4% number. So ridiculous.
True unemployment rate
EDIT: Looks like it’s from the author of that article! Anyways yeah it’s a running counter
Going by the graph at that link, the “true unemployment” has been as low as it’s ever been for the past few years. I guess I don’t understand the point of the article in the OP.
24% vs 4% is by estimations about a 40m person difference. That seems like an incredibly important point to get across
Yes, of course. I just don’t understand the framing of Democrats being tricked. Is it supposed to be apologia for the Democrats running campaigns that got Trump elected twice?
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I don’t think the decades-long trend is as important as:
I haven’t flipped through the site a bunch, but I wonder if the higher historical rates are offset to a degree by lower costs of living in, say, 1995.