Government claims a 3.6% unemployment rate. Let’s look at the numbers for May 2022:
Civilian non institutional population 263.7 million
Civilian labor force 164.4 million
% of population participating in labor force 62.3%
Employed 158.4 million
Unemployed 5.95 million
Not in the labor force 99.3 million
The true number of unemployed is the 99.3 million not in the labor force plus the 5.95 million recorded as unemployed or 105.25 million. This represents 40% of the civilian population of working age = non working spouses, welfare recipients, early retirees, non working homeless, millennials living in their parent’s basement, , etc.
Thank you so much for breaking that down!
Is there a place we can get the actual population number for Employed, Unemployed, and Not In The Labor Force regularly?