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Gamegis t1_j3roh2u wrote

Reply to comment by FindtheTruth5 in Coinbase to slash 20% of workforce in second major round of job cuts by ChocolateTsar

Unemployment rate is 3.5%. That’s pretty damn good

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[deleted] t1_j3rud8z wrote

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5G_afterbirth t1_j3sawtd wrote

I dont want to bother you in your comfy armchair, but could you elaborate?

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rice_not_wheat t1_j3tpy3a wrote

Fortunately they calculate the number the same way every time so it's still relevant against itself.

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[deleted] t1_j3scn2d wrote

[deleted]

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axonxorz t1_j3sp02a wrote

It's a useful metric if it's paired with underemployment numbers, which it rarely is

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hicow t1_j3ujbrn wrote

That the way unemployment is measured is arguably BS, sure. But if it's compared against prior numbers where the method of measurement is the same, it's an easy way to see which way the numbers are headed.

Trump got called out for claiming unemployment under Obama was north of 40% then, in Feb '17, with Trump in office for less than two weeks, proclaiming he had just made the best unemployment numbers ever thanks to his bigly genius business brain.

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