True Rate of Unemployment
The Ludwig Institute for Shared Economic Prosperity (LISEP) reports a 0.2 percentage point increase in the 'True Rate of Unemployment' for July. This metric aims to provide a more comprehensive view of economic health by accounting for underemployment and those earning below a living wage.
Why it matters
This alternative economic indicator challenges official government statistics, suggesting that the actual financial well-being of the U.S. workforce is more precarious than headline numbers imply.
LISEP Ludwig Institute for Shared Economic Prosperity
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The percentage of the U.S. labor force that is functionally unemployed
The functional unemployment rate increased 0.2 percentage points in July, the fourth consecutive monthly increase.
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