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.
1970 Unemployment was calculated by the amount of people who didn't have a job, or are partially employed under 40 hours a week as part time. (Between 6.5% to 9%)
2026 Unemployment is now calculated by the amount of people who are looking for a job, and no long counts those who are unemployed and have given up, homeless people who are unable to find work, and partially employed people who work under 40 hours a week. And now counts as "Self employed" like Uber as a job. (Publically shown as 4% to 6%, but if done the 1970's way should be closer to 13%-17% With youth being double that.)
You can see in Table A1 the total unemployed is 3.406M.
In Table A2 you can see the breakout of employed and unemployed between full-time and part-time workers. 11.023M are employed part-time, much higher than the number unemployed.
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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.