The recent unemployment numbers have been touted as a victory for the Obama Administration. Unfortunately, they happen to be misleading. According to the Bureau of Labor Statistics (BLS), the reported unemployment rate of 4.6% in November of 2016 is inaccurate because it only accounts for those who are able to take a job and have actively looked for work within the past four weeks. It doesn’t account for underemployed workers, part-time workers, and those who are “marginally attached workers” according to the BLS definition of “real unemployment”. They conclude that the real unemployment rate lies at 9.3% when accounting for the necessary differences in how these metrics are calculated.
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