This is not a secret, it's been talked about for a long time. It's been the government measurement basis for 30+ years now. Business reports have been all over this for the last 7 years running.
This is only a BIG LIE if you watch Fox News regularly.
But the effect on the meaning of the reported rate is much greater now. The long term out of work, underemployed, employed at a lower level job, etc. factors have increased greatly over the norm. The dropping unemployment rate now has much more to do with these factors than you would expect normally.
You're just saying words that mean nothing. "Greatly increased over the norm?" Um, we had this very unusual event called the Great Recession. Perhaps you heard about it. That might have something to do with those numbers. Just spitballin here though.
Yes we did and it has made the unemployment numbers less reliable than ever. While there are always more people unemployed than the figure indicates, that is greatly exaggerated now.
Yes but when you look at things the things you mention like the rate of part time employment, wage growth, change people entering or leaving in the labor force, etc...the last 6-12 months have been going quite well. The rate of improvement in these items has been just as good as the rate of improvement in the headline number.
They aren't back to where they were in 2007 but they are finally showing a solid trend.
They aren't back to where they were in 2007 but they are finally showing a solid trend.
