Please, tell me your opinions. Can’t we simply take the number of people of working age, determine the number of those that are not working and then determine the real unemployment rate? Am I missing something?
I agree with you. The number of people of working age divided by the number of those of working age not working should give the unemployment rate.
Do you think it would be more helpful to give the employment rate? The number of people of working age divided by the number of people who are employed.
And we’ll use as employment, the number of those who paid in the previous month on a personal social security account + those who have legally opted out of social security but also file for federal income tax.
Your formula has a built in (Biblical) assumption that all who can work, should work.
Leftists, of course, being humanist, gnostic, anti-Christians,
twist this belief -
only those who want to work should be able to work.
That’s why the current admin calculates the UE rate the way they do - those who don’t want to work or have given up don’t count as unemployed.