JOHN WILLIAMS EXPLAINS WHY UNEMPLOYMENT IS REALLY 22%

In order to be counted in the headline unemployment rate — and keep in mind, the government actually publishes six levels of unemployment. The third level they call U3 is the headline number — you have to obviously be out of work and willing and able to take a job, but you have to have actively looked for work in the last four weeks. There are people who’ve stopped looking for work after a period of time when there are just no jobs to be had, yet they’d take a job if it were available, and they otherwise consider themselves unemployed.

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