Would someone explain to me what the unemployment rate is supposed to be measuring? It certainly isn’t a measurement of the percentage of Americans who are unemployed.
The official unemployment rate measures the gullibility of the public in the area of swallowing obviously fraudulent economic numbers.
This imaginary “5%” figure is one of many measures in the official report, specifically U-3. Basically, it’s only people getting unemployment checks.
Nobody publishes U-6, which is far more accurate in that it includes people more people who are, how can I put this in layman’s terms, not working. :-)