I’ve been talking about this for a while now, and it’s encouraging to see some dead trees taking up the story.
Basically, the unemployment figures that get reported are known as U3, which are simply the number of people who are applying for unemployment insurance.
And that’s not a good gauge because a lot of people’s benefits are running out and/or they simply stop looking for work because they’re discouraged.
More at True/Slant.
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