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[–] 45 points 1 year ago (1 child)

Also, not so fun fact, but this got me curious so I looked up the unemployment rate during The Great Depression: apparently then it was around 20% to 25% as well, so I feel like that reinforces the point I'm making a bit.

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  • [–] 7 points 1 year ago

    apparently then it was around 20% to 25% as well

    No, the unemployment rate was around 20-25% under the traditional definition. It's currently 4.2% under that definition.

    If you want to use this LISEP definition, fine, but recognize that it's been above 30% for most of its existence, and has only been under 25% since COVID. Basically, if you go by the LISEP definition then you're saying that the job market after COVID has been better than it has ever been before.

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