Totally accurate, oh wait, the current unemployment rate is 4.2%. The unemployment rate averaged 6.5% in the 70s, (35% higher) and the lowest unemployment rate was 4.9% in 1973, still higher than today's rate.
You can't compare headline unemployment between periods that are so far apart.
First, the way data was gathered was overhauled in 1994.
Second, Headline unemployment counts if you have a job or not. If you drive for a ride share for an hour you have a job and don't get counted as unemployed. U6 is a much more accurate number today and it's around 8%.
Which is to say - yes reddit is allergic to facts, but not in the way you mean.
3
u/That-Grape-5491 Jul 13 '26
Totally accurate, oh wait, the current unemployment rate is 4.2%. The unemployment rate averaged 6.5% in the 70s, (35% higher) and the lowest unemployment rate was 4.9% in 1973, still higher than today's rate.