In economic speak, you usually see what they call U3 for the unemployment rate. This number started at a low 3.5% pre-pandemic and spiked up to 14.7% at its worst. That’s well above the previous recession which topped out at 10% in 2009. Unemployment has come down a little since and sits at 7.9%. Still, when looking around at my community and hearing from friends, I find this hard to believe. And I’m guessing you do as well.
The real unemployment rate is much higher than this number that’s often used by politicians. U3 omits a large portion of the […]
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