Wow: The real unemployment rate - the one that counts workforce refugees - is dropping like a stone

The Wall Street Journal had a surprising bit of information the other day, one that probably escaped the notice of most people but is in fact a very important indicator of our economic vitality. We've often talked here about the fact that there are two unemployment rates, and that the one we usually hear about is misleading. The U-3 unemployment rate is the one that ignores those who have stopped looking for work. This rate is now a very low 4.1 percent, but as we've told you before, that doesn't mean much if it ignores millions of people who are also not working and aren't even trying to find jobs. The U-6 unemployment rate, on the other hand, takes account of these people, and it's typically much higher than the U-3. If you really want a sense of the employment picture, you need to look at the U-6 rate - but usually the one we hear about is the U-3.

---

Support Canada Free Press

---