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US policymakers lose faith in official unemployment rate

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Financial Times/James Politi and Taylor Nicole Rogers/3-3-2021

“Kipnis, 32, is one of millions of Americans who have stopped looking for work during the pandemic and is therefore uncounted in the official unemployment rate, which has plunged to 6.3 per cent from 14.8 per cent in April.”

USAGOLD note: Shadow Stats continues to track “discouraged workers” who were “defined out of existence in 1994.” When counted, the unemployment goes from 6.3% to just over 25%.

line chart showing Shadow Stats rendition of the unemployment versus official statistics

Charts courtesy of ShadowStats.com • • • Click to enlarge

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