Is the U.S. unemployment rate really 6%? Not even close

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

The official unemployment rate fell again in March to a pandemic low of 6% after the U.S. economy created 916,000 jobs, but the real level of joblessness is...

The official U.S. unemployment rate fell again in March to a pandemic low of 6% after the U.S. economy created 916,000 jobs, the Labor Department reported Friday, but the real level of joblessness is much higher.

Normally the number is not extremely high, but the pandemic induced a whopping 8 million people to suddenly drop out of the 164 million-strong labor force.Another smaller but persistent problem: Some people keep telling the government they still have a job even though they are not actually working. “When adjusting for people that have dropped out of the labor force and the lingering misclassification, the unemployment rate remains around 9%,” according to lead U.S. economist Lydia Boussour of Oxford Economics.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

good luck

More like 15% - 18%

I know some people who have just given up.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines