I’m not saying the website is unreliable. It’s the way unemployment is calculated now and for a number of years. The below is from this website:
In May 2018, the real unemployment rate (U-6) was 7.6 percent. It’s double the widely reported unemployment rate (U-3) of 3.8 percent. Here’s how to calculate both.
Step 1. Calculate the official unemployment rate (U-3).
U-3 = 6.065 million unemployed workers / 161.539 million in the labor force = 3.8 percent.
Step 2. Add in marginally attached workers. There were 1.455 million people who were marginally attached to the labor force. Add this to both the number of unemployed and the labor force.
U-5 = (6.065 million + 1.455 million) / (161.539 million + 1.455 million) = 7.520 million / 162.994 million = 4.6 percent.
Step 3. Add in part-time workers. There were 4.948 million people who were working part-time but would prefer full-time work. Add them to the unemployed with marginal workers. They’re already in the labor force.
U-6 = (7.520 million + 4.948 million) / (162.994 million) = 12.468 million / 162.994 million = 7.6 percent. (Source: “Table A-15,” Bureau of Labor Statistics.)
Of course it is. We have changed our processes to understate both inflation, overstate growth, and understate inflation.
That’s the whole point.
And, as I said, Trump is well aware of it and quoted the “real” numbers during the campaign. His policies are unquestionably helping our economy, but claiming historical bests is misleading.