"President Trump agrees that the number doesn't reflect the reality of unemployment, concluding the numbers were 'phony' and 'rigged' to underrepresent labor market robustness."
"The official unemployment rate doesn't include people who have given up looking for work or those stuck in low-paid jobs, failing to capture labor underutilization nuance."
The measurement of joblessness in the U.S. is criticized for not reflecting the true state of the labor market. The official unemployment rate overlooks those who have stopped searching for work and those in low-paying positions that do not match their skills. President Trump’s remarks labeled employment numbers as 'phony' and 'rigged,' leading to the dismissal of BLS Commissioner Erika McEntarfer. Similar sentiments were expressed by former GE CEO Jack Welch, who questioned statistical integrity during the Obama Administration, revealing ongoing skepticism about unemployment data accuracy.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]