It’s not your mother’s Unemployment Rate. John Droz’s real numbers help explain how misleading the official unemployment numbers are. Thank you, John.
“OSTELLO: But if you are out of work, you are unemployed.
ABBOTT: No, Biden said you can't count those "Out of Work" as the unemployed. You have to be looking for work to be unemployed. “
This is not a Biden unique thing it is the way economists calculate unemployment. This was true for Trump, Clinton, Bush, Obama, etc..
“OSTELLO: But if you are out of work, you are unemployed.
ABBOTT: No, Biden said you can't count those "Out of Work" as the unemployed. You have to be looking for work to be unemployed. “
This is not a Biden unique thing it is the way economists calculate unemployment. This was true for Trump, Clinton, Bush, Obama, etc..