I’m not terribly knowledgeable when it comes to the unemployment rate, but I thought they removed all of those who have given up looking. This was there’s a whole population of people who aren’t registered as unemployed, but have been unemployed for long enough that they’re considered no longer looking.
This list used to be people who could not find jobs (Obama’s reign), but now I imagine it’s people who are getting government money and prefer to stay at home (Biden’s reign).
Yes, they do. So more people can be unemployed, than are included in the rate. The rate can go lower, as people drop out of hunting, as well as by those actually becoming employed.
Still, having a reported 10-11 million job openings & the rate going down doesn't make a lot of sense. A whole lot of people must be dropping out of job hunting for whatever reason. But surely they have the same bills to pay (for the most part) now, that they had while they were working.
“ thought they removed all of those who have given up looking.”
That’s what I thought also. That way it doesn’t look as bad. Around here people survive doing our jobs, things under the table. Of course that includes drug deals.
You’re right.