Unemployment was calculated more honestly back then. Todays number does not account for millions who have quit looking, etc.
I’ve been wondering about that - if the Trump Administration will alter how the jobless numbers are tabulated to more honest numbers? (once the ‘Shadow Government’ is eliminated that is)
Now that Trump is president, they'll use all the numbers when calculating those figures.
Agreed. Although I believe the unemployment rate declined, we’re comparing apples to oranges with rates calculated differently.
It was calculated the same way in 1972. In fact, in 1972, only 60% of adults had or were looking for jobs, compared to 63% today. So the percentage of people not interested in working in 1972 was actually greater than today.
Very true. I think Shadow Statistics gives a true account of real unemployment.
It’s not only a quit looking thing, claims run out but you’re still unemployed..like my husband.