Comment by reddozen
3 hours ago
There is no revelation. The authors are intentionally misleading you by comparing 2 different metrics to pretend their formula is meaningfully different than what BLS provides.
"Headline" unemployment rate is U-3 unemployment. If they compared "TRU" to it's analogous match U-6 the graph would be less striking as it's a 1:1 match.
> If they compared "TRU" to it's analogous match U-6 the graph would be less striking as it's a 1:1 match.
What do you mean? Outside of the COVID spike, I don't think U-6 ever comes anywhere close to 20%, which is lower than the lowest parameter in this TRU graph. IIRC, current U6 unemployment is roughly 8.7%.